Acquisition of ECO-Adapt SAS strengthens Schaeffler’s portfolio of Lifetime Solutions

2023-03-03 | Herzogenaurach

• Acquisition strengthens Schaeffler’s position as an innovative market leader in predictive maintenance solutions
• Higher level of transparency and reduced downtime by combining ECO-Adapt products with existing OPTIME offering
• 100 percent shares acquired through share purchase agreement

The global automotive and industrial supplier Schaeffler has announced the acquisition of 100 percent of the shares in ECO-Adapt SAS. ECO-Adapt SAS offers innovative solutions for condition monitoring based on electrical signal analysis and systems for the optimization of energy consumption.

The acquisition expands the Industrial division’s portfolio of lifetime solutions and strengthens its position in the field of digitally-based predictive maintenance. The Lifetime Solutions portfolio contains an extensive range of service offerings for industrial maintenance of machines throughout their entire operating life – from heating devices and alignment tools and condition monitoring solutions through to a wide selection of lubricants and matching automated lubricators.

Complementing existing OPTIME solutions with functions based on electrical signal diagnosis
OPTIME Condition Monitoring now offers a reliable predictive maintenance solution for industrial machinery based on signal analysis of vibration and temperature data. ECO-Adapt completes this scope by offering maintenance information on the basis of electrical signal analysis, providing additional security against potential failures of electrical components. Operators have the advantage of covering both mechanical and electrical issues with a holistic predictive maintenance system. This is a significant step towards the more sustainable operation of machines.

With ECO-Adapt Schaeffler offers a new range of products covering the optimization of energy consumption during machine operation
The ECO-Adapt product line offers a comprehensive range of products that also covers customers energy monitoring needs. ECO-Adapt answers a constant request from customers: Make monitoring easy to implement and use. The ECO-Adapt product line also provides revolutionary multi circuit meters to facilitate industrial sub-metering, with a full cloud-based solution, including customized analytics and dashboards. Energy monitoring makes it possible to optimize overall energy consumption and provides information to find the optimum operating points of the machines in the most energy intensive industries for example in cement, steel, pulp and paper, and many more.

“Condition monitoring of all critical powertrain components is a challenge for our customers in all industrial sectors. Our customers need scalable and holistic monitoring solutions that provide detailed insights into the condition of the mechanical parts as well as the electrical components of electric motors in rotating machines. By working with ECO-Adapt, we can offer our customers top-quality services and solutions for bearings and electric powertrain components - throughout the entire lifecycle,” said Rauli Hantikainen, head of Schaeffler’s Lifetime Solutions strategic business unit.

Established in 2012 and headquartered in Paris, France, ECO-Adapt combines smart hardware and data analytics to provide solutions for the analysis and optimization of energy consumption and the predictive maintenance of electric rotating machines. ECO-Adapt’s solutions are used by hundreds of customers in the production and maintenance departments of MRO and OEM companies as well as in commercial buildings.

“Schaeffler is the ideal owner and strategic partner for us to continue our successful course in the future. Its expertise in industrial automation will allow us to scale up our offering and win many new customers. By combining our strengths in R&D, we will be able to launch promising new products in the field of innovative condition monitoring onto the market,” said Laurent Laparra, CEO of ECO-Adapt.

The acquisition will be effected by means of a share purchase agreement for 100 percent of the shares. The parties have agreed not to disclose the financial details of the transaction, which is scheduled to close during the first half of the year 2023 subject to customary closing conditions being met.

Expansion of Lifetime Solutions portfolio under “Roadmap 2025”
In accordance with the strategic direction set under its “Roadmap 2025,” Schaeffler is pushing ahead with the expansion of its portfolio of asset lifecycle products and services. As part of this, its Industrial division provides a comprehensive range of highly reliable products and services to help its customers manage today’s challenges and seize emerging opportunities. The aim is for plant operators to achieve greater planning certainty by minimizing their unscheduled downtime, maximizing their bearing and machine service life, enhancing their sustainability, and improving their operational reliability.

The acquisition of ECO-Adapt is a further strategic step in the strengthening of Schaeffler’s Lifetime Solutions portfolio. It follows the acquisition of BEGA International B.V. (Bega), a leading manufacturer of special tools for mounting and dismounting rolling bearings, in 2021.

Forward-looking statements and projections
Certain statements in this press release are forward-looking statements. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. No one undertakes any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. You should not place any undue reliance on forward-looking statements which speak only as of the date of this press release. Statements contained in this press release regarding past trends or events should not be taken as representation that such trends or events will continue in the future. The cautionary statements set out above should be considered in connection with any subsequent written or oral forward-looking statements that Schaeffler, or persons acting on its behalf, may issue.