Timken Corporation, a global leader in engineered bearings and industrial drive products, has signed an agreement to acquire Houston, Texas-based Engineering Solutions Group (also known as Innovative Mechanical Solutions, iMECH). iMECH produces thrust bearings, radial bearings, specialty coatings and other components mainly used in the energy industry. The company currently has about 70 employees and project revenue is expected to reach $30 million in 2023.

Andreas Roellgen, Executive Vice President and President of Timken’s Engineering Bearing business, said: “The acquisition of iMECH will expand our product portfolio and create potentially significant cross-selling opportunities, strengthening our global leadership position in engineering bearings. iMECH has established partnerships with a number of large and well-known energy service companies to provide quality engineered bearings for the most demanding applications.”

Timken will use cash and existing revolving credit facilities to fund the acquisition. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of this year.

IS200EHFCH1A

About Timken

Timken Corporation (NYSE: TKR; www.timken.com) Design engineering bearing and industrial drive products, and continue to expand the product line. With more than a century of innovation and knowledge, we continue to improve the reliability and efficiency of the world’s machinery and drive the world forward. Timken has 2022 sales of $4.5 billion and more than 19,000 employees in 46 countries. Timken has been named America’s Most Responsible Company by Newsweek, the World’s Most Ethical Company by EthicVillage, America’s Most Innovative Company by Fortune, and America’s Best Employer, Best Graduate Employer, and Best Female Employer by Forbes.

Headquartered in Shanghai, Timken provides bearings and industrial drives to a wide range of industries, including energy, aviation, railway, automotive, metallurgy, mining, cement and machine tools. In Greater China, the company has more than 3,800 employees, offices at all levels in 14 major cities, and has established 6 bearing manufacturing bases and 4 industrial transmission product manufacturing bases, as well as an industrial service center and multiple logistics and engineering technology centers. Timken is committed to creating value and is actively engaged in the building and sustainable development of the communities in which it operates to shape a better world.