November 1, 2011
ERIKS NV, a Netherlands-based industrial service provider of a variety of industrial products, including fabricated hose, cut gaskets and sealing products is pleased to announce the acquisition of Lewis-Goetz, a leading Pittsburgh-based distributor.
“The acquisition of Lewis-Goetz brings ERIKS the perfect growth platform in North-America in fabricated hose, gaskets and conveyer belts that we have been looking for. Together with our existing US-based companies, we will now realize some $700 million USD annual sales with over 1500 employees; North-America is now the single most important market for ERIKS”, said Johan Sleebus, chairman of ERIKS Executive Board.
For the last four years Lewis-Goetz has been owned by private equity firm, Audax Group of Boston, MA.
Jeff Crane, CEO of Lewis-Goetz thanked Audax for their support of the last four years and looks forward to the future. “Audax provided us with critical resources to help with the next stage of our growth. We fulfilled our promise to them by putting those resources to work in building a leading distribution business in our space. Now, as we become an important part of a leading global service provider we know that our future is much brighter for the time we spent with Audax. We could not be more excited about the prospects for the future and we look forward to the important things we will accomplish with Eriks.”
Founded in 1940, ERIKS is a leading international industrial service provider offering a wide range of high-quality mechanical engineering components and associated technical and logistics services. ERIKS’ current product range, including the technical and logistics services that form part of it, is divided into five core activities: flow technology; sealing technology; bearing and power transmission, including electromechanical services and condition monitoring; industrial plastics; and tools and maintenance products. ERIKS currently consists of more than 60 companies with branches in 25 countries, serving over 200,000 customers. In 2010, ERIKS generated net sales of €1.1 billion (USD 1.6 billion). ERIKS is a wholly owned subsidiary of SHV Holdings N.V., a private-held family company with net sales in 2010 of €16.0 billion (USD 23.1 billion). For more information visithttp://eriks.com
Lewis-Goetz is one of the largest industrial distributors in North America, recently ranking 23rd in Modern Distribution Management’s list of Market Leaders. Specializing in fabricated hose, conveyor belts and sealing products, the company serves customers in a wide range of industries from 86 locations throughout North America. For more information visit http://lewis-goetz.com