SKF paid around €80 million for 100% of the equity of BVI and assumed net loans of €18 million.

Blohm + Voss Industries is a leading manufacturer and service provider of equipment for critical marine applications, including shaft components (seals and bearings), stabilizers, and oily water separators. The company has around 400 employees and annual sales of around €100 million with an operating margin in line with the SKF Group.

BVI operations and capabilities have a very strong fit with the SKF marine strategy and complement SKF’s existing marine product and service range. This will further establish SKF as a leading supplier of marine sealing arrangements, and hydrodynamic bearings, which is a significant bearing type in the marine industry, the company says.