SKF has completed its divestment of Canfield Technologies, Inc. to Gen Cap America, a private equity firm headquartered in Nashville, Tennessee.
Canfield is a manufacturer of solder, pastes and preforms for metal joining, used in the electronics, plumbing and jewellery industries and joined SKF as part of the acquisition of Kaydon Corporation in October 2013.
The total consideration of the divestment is approximately US$23 million, on a cash- and debt-free basis.
Located in New Jersey, Canfield Technologies had sales of approximately US$ 17 million in 2014 and has been operating as a stand-alone business within the SKF Group.
This story is reprinted from material from SKF, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.