Lone Star Announces Acquisition of ERIKS
2024年5月3日 - 10:07PM
ビジネスワイヤ(英語)
Lone Star Funds (“Lone Star”) today announced that an affiliate
has acquired ERIKS N.V., a specialized pan-European industrial
components distributor and engineering service provider. Financial
terms of the transaction were not disclosed.
Founded in 1940, ERIKS has established itself as a European
leader in specialized industrial services with over 200 locations
in 12 countries. ERIKS’ deep industry experience, technical
knowledge, local distribution network and dedicated engineering
facilities allow it to develop advanced, customized solutions that
drive performance improvements, deliver cost savings and add
measurable technical and commercial value for its customers.
Donald Quintin, Chief Executive Officer and Global President of
Lone Star, said, "ERIKS represents an exciting investment
opportunity and a valuable addition to our European investment
portfolio. This acquisition aligns with our strategy of investing
in market leading businesses that exhibit both growth and operating
improvement potential. We are excited to work alongside the ERIKS
team to further scale the business and accelerate the delivery of
innovative solutions to their customers."
Stepan Breedveld, Chief Executive Officer of ERIKS, added,
"Joining forces with Lone Star is a significant milestone that
propels our strategic vision forward. This partnership will enable
us to leverage Lone Star’s vast resources, sector expertise and
strategic support, and better positions ERIKS to enhance our
service offerings and better serve our customers around the
world."
The acquisition of ERIKS was completed following approval by
regulatory authorities.
About Lone Star
Lone Star is a leading private equity firm advising funds that
invest globally in corporate equity, credit, real estate and other
financial assets. Since the establishment of its first fund in
1995, Lone Star has organized 23 private equity funds with
aggregate capital commitments totaling approximately $87 billion.
The firm organizes its funds in three series: the Opportunity Fund
series; the Commercial Real Estate Fund series; and the U.S.
Residential Mortgage Fund series. Lone Star invests on behalf of
its limited partners, which include institutional investors such as
pension funds and sovereign wealth funds, as well as foundations
and endowments that support medical research, higher education, and
other philanthropic causes. For more information regarding Lone
Star Funds, go to www.lonestarfunds.com.
About ERIKS N.V.
ERIKS is a specialized industrial service provider that offers a
wide range of technical products, co-engineering and customization
solutions, as well as related services. ERIKS helps customers in a
variety of industrial segments to improve their products'
performance and reduce their total cost of ownership. ERIKS has
industry leading technical know-how and deep expertise in the areas
of sealing & polymer, gaskets, valves & instrumentation,
industrial & hydraulic hoses, industrial plastics, power
transmission & bearings, conveying systems and tools,
maintenance & safety products.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240503885133/en/
Mollie Duban mediarelations@lonestarfunds.com