On Feb. 1, Ohio-based bearings manufacturer Timken announced its second acquisition in less than week.
Just two days after reaching an agreement to acquire Nadella Group, Timken said it has acquired the assets of American Roller Bearing Company, a North Carolina-based manufacturer of industrial bearings.
ARB generated sales of more than $30 million in 2022. Financial details of the acquisition were not announced, but Timken said it funded the transaction with cash on hand.
Timken said ARB employs about 190 people and operates manufacturing facilities in Hiddenite and Morganton, North Carolina.
“ARB’s end-market mix, customer base and aftermarket position fit our Timken business model extremely well,” said Richard G. Kyle, Timken President and CEO. “We’re proud to welcome ARB and its employees into The Timken Company.”
MDM’s M&A Virtual Summit, to be held Feb. 21-22, has something to offer for any distributor on the dealmaking spectrum. We’ll cover the current state of M&A; how to maximize valuation; integration do’s and don’ts; ESOPs; the culture side of the M&A process; and more. Get details and register here.
Related Posts
-
It adds approximately $200 million in revenue and 900 employees to Timken.
-
Valley Supply's six locations in Washington state will join White Cap's portfolio.
-
Timken has agreed to acquire Nadella Group, a manufacturer of motion technology based in Italy.
