SKF, a global supplier of bearings, seals, mechatronics, lubrication systems, and services, has acquired RecondOil Sweden AB, cleantech company that has developed a chemical filtration and rejuvenation process for industrial lubrication fluid and slop oil.
The acquisition is set to strengthen SKF’s lubrication management business and rotating equipment performance offering, the company said, adding that RecondOil posted turnover of SEK10 million (1.06 million) in 2017.
Alrik Danielson, President and CEO of SKF, said: “This acquisition is a good strategic fit for us. It complements our existing offer around the rotating shaft and will strengthen our ability to offer customers a fee-based value proposition, in which lubrication management systems play an important role.
“The acquisition is also in-line with our ambition to develop and offer solutions that help customers reduce the environmental impact of their own operations. By bringing together RecondOil’s technology with SKF’s scope and industrial expertise, we will be able to industrialise this offering.”