Rieter, headquartered in Winterthur, Switzerland, is to acquire the Schlafhorst automatic winder business, along with component companies Accotex and Temco, from the Saurer Group, for €300 million.

In total, these three businesses had a combined turnover of €142 million in 2020, down from €235 million in 2019 and €260 million in 2018.

Rieter and Saurer expect to close the transaction during August and in the first step of the transaction, Rieter will acquire 57% of the shares of parent company Saurer Netherlands. The shares will be returned to Saurer after the implementation of the transaction in six-to-nine months’ time.

It is envisaged that Rieter will supply automatic winders to Saurer in the future.

Accotex is a manufacturer of complementary elastomer components for spinning machines and Temco makes bearing solutions for filament machines.

www.rieter.com