Ringfeder Acquires Carlyle Johnson Machine
VBG Group, through its subsidiary Ringfeder Power Transmission US, has acquired all shares in the US company The Carlyle Johnson Machine Co., LLC for a purchase price on a cash and debt free basis of USD 16.5 million. The company was founded in 1903 in Hartford, Connecticut and designs and manufactures components for motion control that are used in industrial applications. The acquisition will have no impact on VBG Group’s results for 2021 but will have in 2022.
Carlyle Johnson’s product suite includes mechanical, electrical, and pneumatic clutches and braking systems, as well as associated electrical controls and lubrication seals for medical, aerospace, industrial and defense product applications.
Carlyle Johnson's products live up to unique safety requirements as they are used in critical processes and contexts. High product reliability in combination with high innovation capacity has meant that Carlyle Johnson's products are currently used in, for example, surgical robots.
The acquisition strengthens VBG Group's industrial business, and the company will be part of the Ringfeder Power Transmission division.
“This acquisition complements us in a natural way”, says Thomas Moka, division manager for Ringfeder Power Transmission. “Through Carlyle Johnson, we complement our existing product portfolio and enter interesting high market growth segments such as medical equipment. Above all, I see clear synergies in the organization and a great potential for our sales organization to market Carlyle Johnson's products in new markets.”
Michael Gamache, CEO of Carlyle Johnson, adds: “We see that VBG Group has the strength and the industrial knowledge to develop Carlyle Johnson further. We share the long-term perspective and have the same values, which means that our companies fit together well.”
“We are very pleased that we can complete this acquisition”, says the President and CEO Anders Birgersson. “The acquisition fits well with our goal of growing as an industrial group and Carlyle Johnson's products match VBG Group’s mission to create a safer society.”
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
Next A Comprehensive Guide to MTB Bearings with Matt Harvey from Enduro Bearings
BRIEF INTRODUCTION
Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.
Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.
China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.
