SKF has signed an agreement, subject to regulatory approvals, to divest Reelcraft, a manufacturer of hose, cord andcable reels for industrial applications, to Madison Industries.
The total consideration of the divestment is USD 115 million on acash-free and debt-free basis and the divestment is expected toclose during Q3 2017.
Reelcraft joined SKF as part of the acquisition ofLincoln Industrial in 2010 and is headquartered in Indiana, USA.Reelcraft’s sales in 2016 amounted to approximately USD 55million.
