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ERIKS to Acquire Industrial Controls

Oct 1 2011 (All day)

Industrial Controls has signed a definitive agreement to be acquired by ERIKS.

With this merger, Industrial Controls provides ERIKS with a platform for growth in Controls & Instrumentation in North America. Industrial Controls also strengthens ERIKS’ position as a global industrial service provider. The activities of Industrial Controls will be developed as an independent wholly owned subsidiary within ERIKS.

 “ERIKS’ global perspective, solid financial backing, industrial customer focus, and quality reputation are exactly what we have been seeking to take Industrial Controls to the next level.  We have been impressed with their vision for growth and look forward to joining the ERIKS team to better serve our customers and expand our role in the industry” said Joe Eichelberger, President and CEO of Industrial Controls.  Joe, along with the rest of the management team, will lead the company in its next phase of success.

“The acquisition of Industrial Controls will significantly strengthen ERIKS’ market position in the United States.  Industrial Controls’ experienced leadership team and talented employees along with its leading market position provide us with an excellent platform for growth in the Controls & Instrumentation field.  We are pleased to welcome Industrial Controls to the ERIKS family of companies” said Johan Sleebus, Chairman of ERIKS Executive Board.

About Industrial Controls

Founded in 1976, Industrial Controls is the leading distributor of Controls, Instrumentation, Automation and Automated Valves in the U.S.  Industrial Controls serves over 10,000 blue chip customers with the industry’s premier brands through its national network of 17 branch offices and e-commerce/catalog capabilities.  For more information visit www.industrialcontrolsonline.com

About ERIKS      

Founded in 1940, ERIKS is a leading international industrial service provider offering a wide range of high-quality mechanical engineering components and associated technical and logistics services.  ERIKS’ current product range, including the technical and logistics services that form part of it, is divided into five core activities: flow technology; sealing technology; bearing and  power  transmission, including electromechanical services and condition monitoring; industrial plastics; and tools and maintenance products. ERIKS currently consists of more than 60 companies with branches in 25 countries, serving over 200,000 customers. In 2010, ERIKS generated net sales of €1.1 billion (USD 1.6 billion). ERIKS is a wholly owned subsidiary of SHV Holdings N.V., a private-held family company with net sales in 2010 of €16.0 billion (USD 23.1 billion).  For more information visit www.eriks.com



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