NBI Bearings Europe, S.A. completed the acquisition of Egikor, S.A., Industrias Betico, S.A., and Tallleres Ermua, S.L.
October 24, 2016
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NBI Bearings Europe, S.A. (BME:NBI) entered into agreement to acquire Egikor, S.A., Industrias Betico, S.A., and Tallleres Ermua, S.L. for 5 million on September 23, 2016. Under the terms of the transaction, 60% of the consideration will be paid on closing, 20% within 12 months, and remaining 20% after 24 months from closing. The transaction is subject to due diligence. Egikor, Industrias Betico, and Tallleres Ermua jointly reported revenues of 11.33 million and EBITDA of 1.43 million for the year ending December 31, 2015. CDI Global Iberia acted as financial advisor to Egikor, S.A., Industrias Betico, S.A., and Tallleres Ermua, S.L.
NBI Bearings Europe, S.A. (BME:NBI) completed the acquisition of Egikor, S.A., Industrias Betico, S.A., and Tallleres Ermua, S.L. on October 25, 2016.
NBI Bearings Europe SA is a Spain-based company engaged in the bearings production. The Company focuses on the design, development and manufacture of ball and roller bearings for various applications, such as cranes and offshore machinery; gear boxes; industrial machinery; agricultural equipment; tubular stranders, as well as pulleys and shear blocks. The Company's products range includes single row ball bearings; cylindrical, tapered, spherical and needle roller bearings; support rollers; cam followers, as well as cylindrical and spherical roller thrust bearings. In addition, it provides advisory related to bearing selection and dimensions; technical assistance; as well as tailor-made design, among others. The Company is controlled by Pakel Rmi Promocion de Empresas SL.