LORD Corporation announced it has agreed to acquire SKF’s Fly-By-Wire Systems France (FbW) subsidiary. Based in Saint-Vallier, France, FbW designs and manufactures cockpit controls, sensors, dampers and electromechanical actuators primarily for fly-by-wire systems on commercial fixed-wing aircraft. FbW was a pioneer in this field as it collaborated with Airbus for its first introduction of fly-by-wire technology on the A320 commercial jetliner. Its innovative product line is highly complementary to LORD capabilities in mechanical, electromechanical and dynamic systems.
The acquisition by LORD will position both entities for further expansion into new markets and regions, and provide LORD a major aerospace engineering and manufacturing presence in Europe. LORD customers will now have access to a broader offering around the world of best-in-class dynamic components and electromechanical systems. FbW customers will see renewed focus on innovation and development of FbW’s product portfolio as well as its manufacturing and supply chain management capability.
“The acquisition of Fly-By-Wire Systems France will provide our customers additional value in the form of broader aerospace presence and application expertise, as well as a proven history in providing solutions for mission-critical applications,” said Ed Auslander, president and CEO, LORD Corporation. “Both organizations will benefit by gaining increased access to the critical markets in which they each have strong value propositions. We are excited about this acquisition and the growth opportunities it brings.”
Angermann M&A International AG serves as financial advisor for this transaction. The LORD and SKF teams will work over the next three to four months to close the acquisition. Under LORD ownership, FbW will continue to operate out of its current location in France while retaining its current workforce.
About SKF
SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 17,000 distributor locations worldwide. Annual sales in 2015 were SEK 75 997 million and the number of employees was 46 635. www.skf.com
