Miba is taking another important step in its growth strategy. The company will acquire the bearing business of Germany-based RENK Group. The two companies signed the agreement yesterday. The transaction remains subject to approval by the relevant antitrust authorities, for which the application has now been submitted.

RENK’s bearing business specializes in the development and production of industrial bearings. With around 500 employees at five production plants in Germany, the United States, Brazil, China, and Japan, it generates annual revenue of around 130 million euros (USD 146 mio.). The main site is located in Hanover, Germany.

Combining and strengthening expertise in technologies for the energy transition and electrification

“This is the largest acquisition Miba has made in our company’s history”, emphasizes Miba CEO F. Peter Mitterbauer. “In addition, the capabilities of Miba and the RENK bearing business complement each other exceptionally well. Through this acquisition, we aim to combine and strengthen our expertise. This will enable us to even better offer our customers unique bearing technologies for the energy transition and electrification, for example solutions for integrating wind and solar power into electricity grids, for the power supply of AI data centers, for electric motors, and for clean and safe marine propulsion systems.”

“By selling the bearing business, we are implementing our sector strategy as announced and sharpening our strategic focus even further on our defense business,” says Alexander Sagel, CEO of RENK Group AG. “At the same time, I am pleased that we have found exactly the right partner in Miba for our technologically strong bearing business, enabling it to continue its development with a dedicated industry focus.”