“Today’s announcement marks an important milestone for ERIKS. The intended transaction reinforces our strategic agenda with an increased geographical focus on Europe and Asia,” says Stepan Breedveld, ERIKS Chief Executive Officer. “This allows for greater flexibility to accelerate our growth plans, expand our offering and respond to the needs of our customers and markets we operate in. Under the ownership of LKCM Headwater, the intended transaction provides the same strong outcome for the North American businesses, benefitting customers, employees and suppliers.”
“Given our long history of investing in industrial distributors, we have followed the ERIKS North America companies for many years and have significant respect for their strong legacies and decades of leadership,” says Bryan King, Managing Partner at LKCM Headwater Investments. “We appreciate the thoughtful stewardship under ERIKS’ ownership and are excited to partner with management to continue building these long-standing, stalwart brands and welcome them into our family of industrial distribution companies and resources.”
ERIKS NV and LKCM Headwater have agreed to jointly serve international customers that have a presence in North America and Europe.
Following the closing, ERIKS will have a European focus with a growing presence in Asia.