Further consolidation of the industrial and engineering sectors means that any acquisitions made by companies must be carefully considered.
People, products, and personal pride
But how does SKF ensure that any deals made will deliver sustainable value now and in years to come? Well, if the recent acquisition of Italian seal manufacturer, Tenute srl, is anything to go by, it boils down to two main attributes. Products, and perhaps even more importantly, people.
Founded over 40 years ago in 1976, Tenute has always prided itself on its wide-spanning range of engineering capabilities. But it wasn’t until the original founder’s nephew took control of the business in 1995 that operations began to really develop and expand.
Who are Tenute?
In a recent introductory webinar, attended by a combination of SKF and Tenute employees, former owner Raffaello Ravanelli expressed his personal pride at joining forces with SKF, before detailing the company’s core business.
Despite having almost 60 employees involved in areas such as R&D, production, planning, sales, and shipping, many of the staff members possess skills which can be carried through into different departments. This means that the teams have a unique flexibility, which helps separate them from the competition.
Having begun operating mainly in the iron and steel industries, the development of unique seal rubber-fabric material combinations, neck seal solutions, and water barrier solutions helped it expand into other applications, namely marine, wind energy, mechanical, and aluminum rolling, among others. Another major factor in the company’s success is its large-scale manufacturing and warehousing capabilities. Small- and large-scale molds – up to 2.5 m in diameter – can be produced at its 2000m2-factory in Cambiago, which is located just outside Milan.
Tenute is also an active member of the UNI / CT048 Commission and the Technical Committee ISO TC131.
Tenute: an SKF Group company
Important for both parties is a seamless integration. Given the size of Tenute’s customer base worldwide, and its position as a highly trusted provider of quality sealing solutions, the two companies agreed initially on an endorsed brand approach. This means that the Italian company’s brand logo now includes “an SKF Group company” alongside it, reflecting the two brands’ affiliation. In the future, however, the Tenute brand will become SKF meaning the company can take full advantage of the strong SKF brand identity.
“We’re glad to welcome our new colleagues to SKF. This acquisition strengthens our already leading offer, with a particular focus on customers in heavy and process industries.”
Peter Thorpman, Director, SKF Seals
The products that Tenute has designed in recent years will support SKF’s growing sealing capabilities, especially in heavy industry applications. And based on initial sales feedback, which came from the Benelux region, the response was extremely positive.