ERIKS NV, an international industrial service provider, has sold its Polish subsidiary Passerotti Sp. z o.o. to Axel Johnson International.
Passerotti is a value-added distributor and market leader in O-rings, oil seals and hydraulic seals (70% of its revenue), also offering customizing and engineering services from its eight locations in Poland. The company’s 11,000 customers are evenly distributed between OEM’s, MRO’s and distributors, with a focus on the food & beverage, HVAC, processing, marine, mechanical engineering and water/wastewater industries.
Axel Johnson International is a privately owned industrial group that acquires and develops companies in strategic niche markets, primarily technical components and industrial process solutions. The company, headquartered in Sweden, has four business groups: fluid handling, industrial, lifting and transport.
ERIKS is an international industrial service provider offering a wide range of high quality mechanical engineering components and associated technical and logistics services. The company offers its products and services to the industrial end user based on its expertise in technology, its broad and deep knowledge of market developments, product properties, product applications, product processing, logistics and its state-of-the-art infrastructure. The group has branches in 20 countries and a workforce of approximately 7,500 employees, with a strong position in Western Europe, the US and a presence in Southeast Asia.
Oaklins' team in Poland advised ERIKS on the divestiture of its Polish subsidiary Passerotti to Axel Johnson International. Oaklins' teams in Denmark and the Netherlands, due to their long-term and well-established relationship with ERIKS, supported the Polish team during the pitch phase. Oaklins' team in Sweden identified and approached the buyer.
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