Timken set to boost bearings portfolio with iMECH acquisition

The Timken Company, a global powerhouse in engineered bearings and industrial motion products based in North Canton, Ohio, U.S.A., has inked a deal to acquire Engineered Solutions Group, also known as Innovative Mechanical Solutions (iMECH), headquartered in Houston, Texas, U.S.A. iMECH, a manufacturer of thrust bearings, radial bearings, specialty coatings, and other components, primarily caters to the energy sector.

The acquisition, expected to conclude in the fourth quarter, is part of Timken’s strategic expansion plan. iMECH’s projected revenue for 2023 stands at approximately USD30 million, with a workforce of around 70 employees. Andreas Roellgen, executive vice president and president of Engineered Bearings at Timken, highlighted the acquisition’s role in broadening the company’s engineered bearings offerings and unlocking cross-selling opportunities.

iMECH’s partnership with prominent energy services companies and its reputation for delivering highly engineered bearings for demanding applications align with Timken’s growth objectives. The transaction will be financed through a mix of cash reserves and Timken’s existing revolving credit facility. The value of the transaction was not disclosed.

The acquisition underscores Timken’s commitment to innovation and excellence, positioning the company to better serve the evolving needs of global industries, especially within the energy sector. It also aligns with the company’s objective to enhance shareholder value and bolster its position in the competitive bearings market.

Timken posted USD4.5 billion in sales in 2022 and employs more than 19,000 people globally, operating from 46 countries.