M&A Deal Summary

Timken Acquires GGB

On September 6, 2022, Timken acquired manufacturer GGB from EnPro for 305M USD

Acquisition Highlights
  • This is Timken’s 13th transaction in the Manufacturing sector.
  • This is Timken’s 2nd largest (disclosed) transaction.
  • This is Timken’s 1st transaction in China.

M&A Deal Summary

Date 2022-09-06
Target GGB
Sector Manufacturing
Buyer(s) Timken
Sellers(s) EnPro
Deal Type Divestiture
Deal Value 305M USD

Target

GGB

Suzhou, China
website
GGB is a technology and market provider of premium engineered metal-polymer plain bearings with expertise in material science, surface engineering, and tribology. With manufacturing facilities across the United States, Europe, and China. GGB was founded in 1899 and is based in Suzhou, China.

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Buyer(S) 1

Buyer

Timken

North Canton, Ohio, United States

website


Category Company
Founded 1899
Sector Machinery
Employees17,000
Revenue 4.5B USD (2022)
DESCRIPTION
Entrance to Timken's corporate headquarters in North Canton, Ohio.
Entrance to Timken's corporate headquarters in North Canton, Ohio.

Timken designs, engineers, manufactures and markets Timken bearings, transmissions, gearboxes, chain and related products, and offers a spectrum of power system rebuild and repair services around the world. Timken was founded in 1899 and is based in North Canton, Ohio.


DEAL STATS #
Overall 33 of 39
Sector (Manufacturing) 13 of 17
Type (Divestiture) 5 of 5
Country (China) 1 of 1
Year (2022) 2 of 2
Size (of disclosed) 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-29 Spinea

Haniska, Slovakia

Spinea is a provider and manufacturer of highly engineered cycloidal reduction gears and actuators. Spinea's solutions primarily serve high-precision automation and robotics applications in the factory automation sector. Spinea was founded in 1994 and is based in Haniska, Slovakia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-07 Aerospace Drive Systems

Manchester, Connecticut, United States

Aerospace Drives Systems (ADS) is a provider of complex, Flight Critical assemblies, sub-assemblies, and components for military and civil aircraft. ADS is vertically integrated with full capabilities in metrology, NADCAP heat treat and NDT, milling, turning, grinding, gear grind, assembly, full gearbox testing, and overhaul and repair. Aerospace Drives Systems was formed in 1946 and is based in Manchester, Connecticut.

Sell -

Seller(S) 1

SELLER

EnPro

Charlotte, North Carolina, United States

website


Category Company
Founded 2002
Sector Machinery
Employees3,500
Revenue 1.1B USD (2022)
DESCRIPTION

EnPro is a provider of sealing products, metal polymer and filament wound bearings, components and service for reciprocating compressors, diesel and dual-fuel engines and other engineered products. EnPro was founded in 2002 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 8 of 9
Sector (Manufacturing) 3 of 4
Type (Divestiture) 8 of 9
Country (China) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-05 NxEdge

Boise, Idaho, United States

NxEdge provides vertically integrated solutions to the semiconductor market. The company offers custom solutions including machining, anodizing & plating, advanced engineering coatings, fluoropolymer coatings, cleanings, and assembly. NxEdge was established in 2001 and is based in Boise, Idaho.

Buy $850M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-30 GPT

Wheat Ridge, Colorado, United States

GPT produces critical-service flange isolation kits (FIKs) and monolithic isolation joints (MIJs) for oil, natural gas, and water pipeline applications globally. The company's patented, highly engineered products help prevent the causes of pipeline failures and protect against potential explosions, fires, and pollution. Its "Pikotek" brand is known as the pioneer of the flange isolation gasket industry and is recognized as the original brand to have introduced FIKs to the broader market in the 1980s. GPT is based in Wheat Ridge, Colorado.

Sell -