FRANKFURT — Schaeffler has agreed to purchase Sweden’s Ewellix Group from funding firm Triton for about 582 million euros ($594 million), the German provider stated in a press release.
Schaeffler stated the acquisition continues the enlargement of its industrial division and is predicted to raise earnings in 2024.
Ewellix, which makes parts together with telescopic lifting columns, employs practically 1,200 individuals and generates about 250 million euros in annual income.