SKF divests Reelcraft

SKF has signed an agreement, subject to regulatory approvals, to divest Reelcraft, a manufacturer of hose, cord and cable reels for industrial applications, to Madison Industries.

The total consideration of the divestment is USD $115 million on a cash-free and debt-free basis and the divestment is expected to close during Q3 2017.

Reelcraft joined SKF as part of the acquisition of Lincoln Industrial in 2010 and is headquartered in Indiana, USA. Reelcraft’s sales in 2016 amounted to approximately USD $55 million.

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