M&A Deal Summary

SKF Acquires Lincoln Industrial

On December 1, 2010, SKF acquired manufacturer Lincoln Industrial from Crescent Capital Group, Harbour Group and Audax Private Equity for 1.0B USD

Acquisition Highlights
  • This is SKF’s 1st transaction in the Manufacturing sector.
  • This is SKF’s 2nd largest (disclosed) transaction.
  • This is SKF’s 3rd transaction in the United States.
  • This is SKF’s 1st transaction in Missouri.

M&A Deal Summary
Date 2010-12-01
Target Lincoln Industrial
Sector Manufacturing
Buyer(s) SKF
Sellers(s) Crescent Capital Group
Harbour Group
Audax Private Equity
Deal Type Add-on Acquisition
Deal Value 1.0B USD

Target

Lincoln Industrial

St. Louis, Missouri, United States
Lincoln Industrial Corp. manufactures and distributes lubrication and pumping systems. The company offers railroad lubrications, fittings and installation components, hose reels, grease guns, and fluid controls and systems. Additionally, it provides control valves and meters, and lubrication pumps such as air operated ejectors, thermal pressure devices, and pressure primers.

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Buyer(S) 1

Buyer

SKF

Gothenburg, Sweden
Category Company
Founded 1907
Sector Machinery
Employees41,433
Revenue 103.9B SEK (2023)
DESCRIPTION

SKF focused on growth in the areas of technology, industrial experience, and worldwide presence. Simply put, the combination of these three areas is the powerful source of knowledge that makes our uniquely wide range of capabilities possible. SKF was founded in 1907 and is headquartered in Gothenburg, Sweden.

DEAL STATS #
Overall 3 of 12
Sector (Manufacturing) 1 of 2
Type (Add-on Acquisition) 3 of 11
State (Missouri) 1 of 1
Country (United States) 3 of 6
Year (2010) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-23 Preventive Maintenance

Elk Grove Village, Illinois, United States

Preventive Maintenance Co., Inc. is a provider of predictive technology services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-14 General Bearing

West Nyack, New York, United States

General Bearing Corp. is an engineering-oriented supplier which designed bearings for a variety of special industrial applications.

Buy $125M

Seller(S) 3

SELLER

Crescent Capital Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1991
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Crescent Capital is a provider of debt securities to middle-market companies. Crescent looks to issue senior bank loans, high yield bonds, mezzanine debt and distressed debt to fund a variety of needs. The FIrm's direct lending group looks to provide $10 to $30 million to sponsor-backed companies that generate $5 to $35 million of EBITDA. Crescent's mezzanine practice typically provides junior capital to support buyouts, recapitalizations, and refinancings. Crescent Capital was formed in 1991 and was originally known as TCW/Crescent Mezzanine. The Firm has offices in Los Angeles, Boston, New York, and London.

DEAL STATS #
Overall 19 of 47
Sector (Manufacturing) 4 of 5
Type (Add-on Acquisition) 9 of 19
State (Missouri) 1 of 1
Country (United States) 15 of 40
Year (2010) 1 of 1
Size (of disclosed) 12 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-01 Enhanced Resource Centers

Jacksonville, Florida, United States

Enhanced Resource Centers is a provider of customer experience management solutions with a focus on call center-based business process outsourcing solutions and accounts receivable management services to blue-chip clients in a variety of industries, including financial services, telecommunications, utilities, and student loan markets. Enhanced Resource Centers was founded in 1999 and is headquartered in Jacksonville, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-15 ViaPath Technologies

Falls Church, Virginia, United States

ViaPath Technologies is a provider of telecommunications and technology services to the United States corrections industry. ViaPath Technologies offers innovative product solutions including offender management systems, case management systems, and inmate phone systems. ViaPath Technologies was founded in 1989 and is based in Falls Church, Virginia.

Sell -
SELLER

Harbour Group

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1976
Size Large
Type Sector Agnostic
DESCRIPTION

Harbour Group is a private investment firm that seeks to invest in companies within the sectors of manufacturing and distribution. The firm pursues companies with EBITDA between $4 million and $50 million, and revenue between $50 million and $100 million. In addition, the firm looks for investments within North America and around the world with enterprise value between $30 million and $500 million. Harbour Group was formed in 1976 and is based in St. Louis, Missouri.

DEAL STATS #
Overall 11 of 23
Sector (Manufacturing) 1 of 3
Type (Add-on Acquisition) 6 of 12
State (Missouri) 2 of 2
Country (United States) 11 of 23
Year (2010) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-17 Hardware Resources

Bossier City, Louisiana, United States

Hardware Resources is a supplier of functional and decorative hardware that appeals to the 'mass affluent' consumer. The Company sells its products to more than 3,900 independent custom cabinet manufacturers throughout the United States. Hardware Resources was formed in 1990 and is based in Bossier City, Louisiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-13 Lindstrom Metric

Blaine, Minnesota, United States

Lindstrom Metric is a distributor and importer of metric fasteners. Lindstrom Metric sells its products exclusively through distributors. Lindstrom Metric was founded in 1972 and is based in Blaine, Minnesota.

Buy -
SELLER

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 16 of 102
Sector (Manufacturing) 1 of 5
Type (Add-on Acquisition) 8 of 35
State (Missouri) 1 of 2
Country (United States) 16 of 97
Year (2010) 2 of 3
Size (of disclosed) 1 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-02 KODA Distribution Group

Stamford, Connecticut, United States

KODA Distribution Group LLC is a distributor of specialty chemicals through its Monson, GMZ and Ribelin operating units.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-20 UTEX

Houston, Texas, United States

UTEX is a designer and manufacturer of highly engineered specialty sealing solutions and downhole consumables used for oil and gas drilling, completion and production, in addition to water management and mining. UTEX was founded in 1940 and is based in Houston, Texas.

Sell -
Mergr

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