Timken to Acquire Engineered Solutions Group to Enhance Engineered Bearings Portfolio.
MANews-(C)2009-2023
US-based engineered bearings and industrial motion products provider The Timken Company (NYSE: TKR) has agreed to acquire Texas-based Engineered Solutions Group (a.k.a. Innovative Mechanical Solutions or iMECH) to expand engineered bearings portfolio, the company said.
Terms of the transaction were not disclosed.
Timken will fund the transaction with a combination of cash on hand and its existing revolving credit facility. The deal is expected to close in the fourth quarter.
iMECH manufactures thrust bearings, radial bearings, speciality coatings...
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