The automotive and industrial supplier Schaeffler is taking over the drive specialist Ewellix for well over half a billion euros.
This will strengthen the group's industrial business, Schaeffler announced on Sunday in Herzogenaurach.
A price of around 582 million euros was agreed with the seller, the financial investor Triton.
This value does not include Ewellix's net debt of around 120 million euros to be assumed by Schaeffler.
The transaction is expected to be completed at the end of this year once the usual official approvals have been received.
The acquisition should increase Schaeffler's profits by a mid-single-digit amount as early as 2024, the group said.
Ewellix sales amounted to around EUR 216 million in 2021 and are expected to increase to more than EUR 250 million in the current year.
Schaeffler will raise the purchase price from existing internal and external funds.