Acquisition strategy is an integral part of the company's profitable growth strategy. A systematic process to identify strategic acquisition targets has been established. Acquisitions are considered if they provide a strategic fit with potential synergies, strong commitment from the acquiring division, and are accretive to earnings per share in the first full year. Opportunities for acquisitions exist across most of the company's platforms and geographies based on previous acquisitions from 2003 to 2012.

1. Acquisition strategy
Acquisitions are an integral part of the profitable growth strategy.
A systematic acquisition process has been established and the
strategic targets are identified
Acquisition criteria:
• Strategic fit with clear potential synergies and ability to exploit
these in a reasonable timeframe.
• Strong commitment and ownership by acquiring Division.
• EPS accretive in the first full year, positive TVA effect in two
to three years, including amortization of intangible assets.
Opportunities in most platforms and geographies

2. Acquisition 2003-2012
Identifying gaps and opportunities in all platforms
Bearings Lubrication
Seals Services systems Mechatronics
and units
Products SNFA (2006) Economos (2006) Safematic (2006) ABBA (2007)
Macrotech (2006)
GLO (2008) Jaeger (2005)
Macrotech (2009)
S2M (2007) Baker (2007)
Technologies Vogel (2004)
Lincoln
Industrial (2010)
Geographies QPM (2008) PMCI (2007) ALS (2007) TCM (2003)
Scandrive (2003) PB&A (2006) Sommers (2005)
Monitek (2006) Cirval (2008)
Segments Peer (2008)
GBC (2012)