ERIKS Group to Buy WYKO
ERIKS group nv has agreed to buy WYKO holdings Limited, based near Birmingham, Great Britain. WYKO is a distributor of power transmission, sealing technology, fluid power and maintenance products, mainly in Great Britain, with expected sales of 240 million GBP, or US$456 million, this year.
WYKO has a market share of about 10-15% in Great Britain. The company will provide the ERIKS group with a major position in a new domestic market, and strengthen its position in existing markets.
About 90% of WYKO's sales are in Great Britain; the remaining 10% are through WYKO branch operations in the Netherlands, Belgium, Germany, Slovakia and Ireland and the U.S. and Malaysia.
The combined ERIKS/WYKO is expected to produce pro forma annual ...