Acquisition strategy is an integral part of the company's profitable growth strategy. A systematic acquisition process has been established to identify strategic targets that meet key criteria. Acquisitions must be a strategic fit with clear synergies, have commitment from the acquiring division, and be accretive to EPS in the first full year and have a positive TVA effect within two to three years including amortization of intangible assets. Opportunities exist across most platforms, technologies, geographies and segments.

1. Acquisition strategy
Acquisitions are an integral part of the profitable growth strategy.
A systematic acquisition process has been established and the
strategic targets are identified
Acquisition criteria:
• Strategic fit with clear potential synergies and ability to exploit
these in a reasonable timeframe.
• Strong commitment and ownership by acquiring Division.
• EPS accretive in the first full year, positive TVA effect in two
to three years, including amortization of intangible assets.
Opportunities in most platforms and geographies

2. Acquisition 2003-2010
Identifying gaps and opportunities in all platforms
Bearings Lubrication
Seals Services systems Mechatronics
and units
Products SNFA (2006) Economos (2006) Safematic (2006) ABBA (2007)
Macrotech (2006)
GLO (2008) Jaeger (2005)
Macrotech (2009)
S2M (2007) Baker (2007)
Technologies Vogel (2004)
Lincoln
Industrial (2010)
Geographies QPM (2008) PMCI (2007) ALS (2007) TCM (2003)
Scandrive (2003) PB&A (2006) Sommers (2005)
Monitek (2006) Cirval (2008)
Segments Peer (2008)