Groeneveld Group, a leading provider of automatic lubrication solutions used in on- and off-highway applications is acquired by The Timken Company for an Enterprise Value of EUR 250m (~13x EBITDA).
Groeneveld is headquartered in Gorinchem, the Netherlands, with manufacturing facilities in Italy. Automatic lubrication delivery systems, which enhance vehicle and machine uptime through automated maintenance and safety support, represent the predominance of the company’s offering. The group employs approximately 600 people.
The Timken Company is a global leader in engineered bearings and mechanical power transmission products with 2016 sales of around USD 2.7bn. “The acquisition of Groeneveld will further expand our presence in the automatic lubrication space, which we entered in 2013 with our acquisition of Interlube” said Richard G. Kyle, Timken president and CEO.
Nielen Schuman acts as exclusive financial advisor to the selling shareholder of Groeneveld Group. Click here for the full press release.
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We are excited to announce the promotion to Partner of Joost Moelker. Joost has been invited to join the Nielen Schuman partnership on the back of the great contribution he has made to our business and the strong commitment he shows to our colleagues, our clients and to the development of our firm. The promotion of Joost confirms Nielen Schuman’s ambition to further build our business and fortify our strong market position in the Benelux. Click here for the full press release
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