M&A Deal Summary

Timken Acquires Drives

On August 31, 2011, Timken acquired manufacturer Drives from G. Scott Capital Partners and Northstar Capital for 92M USD

Acquisition Highlights
  • This is Timken’s 4th transaction in the Manufacturing sector.
  • This is Timken’s 8th largest (disclosed) transaction.
  • This is Timken’s 12th transaction in the United States.
  • This is Timken’s 1st transaction in Illinois.

M&A Deal Summary
Date 2011-08-31
Target Drives
Sector Manufacturing
Buyer(s) Timken
Sellers(s) G. Scott Capital Partners
Northstar Capital
Deal Type Add-on Acquisition
Deal Value 92M USD

Target

Drives

Fulton, Illinois, United States
Drives is a manufacturer of ANSI precision roller chain, pintle chain, agricultural conveyor chain, engineering class chain, oil field roller chain and auger products, serving markets around the world. Drives LLC was formed in 1959 and is based in Fulton, Illinois.

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Buyer(S) 1

Buyer

Timken

North Canton, Ohio, United States
Category Company
Founded 1899
Sector Machinery
Employees19,000
Revenue 4.8B USD (2023)
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 12 of 40
Sector (Manufacturing) 4 of 18
Type (Add-on Acquisition) 12 of 35
State (Illinois) 1 of 3
Country (United States) 12 of 28
Year (2011) 2 of 2
Size (of disclosed) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-27 Philadelphia Gear

King of Prussia, Pennsylvania, United States

Philadelphia Gear is a global manufacturer and service provider of gear drives, drive components, inspection and repair services, as well as on-site technical services.

Buy $200M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-02 Wazee Electric

Denver, Colorado, United States

Wazee Electric is a provider of motor, generator, wind and industrial crane services to diverse end markets including oil and gas, wind, agriculture, material handling and construction.

Buy -

Seller(S) 2

SELLER

G. Scott Capital Partners

Darien, Connecticut, United States
Category Family Office
Size Small
Type Sector Agnostic
DESCRIPTION

Scott Capital Partners is a private equity firm focused on mid-sized transactions. The Firm looks to invest $5 to $40 million in transactions valued up to $100 million. Sectors of interest include niche manufacturing, healthcare services/products, business services, value-added distribution, industrial technology, consumer products, and retail. Prospective transaction types include management buyouts, family successions, recapitalizations, and growth capital financings. Scott will not invest in technology, biotech, life science, real estate, or oil/gas exploration. Scott Capital Partners is based in Rowayton, Connecticut.

DEAL STATS #
Overall 3 of 5
Sector (Manufacturing) 2 of 2
Type (Add-on Acquisition) 2 of 4
State (Illinois) 1 of 1
Country (United States) 3 of 5
Year (2011) 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-01 CareSpot Express Healthcare

Brentwood, Tennessee, United States

CareSpot Express Healthcare LLC is a provider of walk-in urgent care, worker injury, occupational health and wellness services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-16 Valterra Products

Mission Hills, California, United States

Valterra Products is a supplier of brand name product lines to the RV, Pool & Spa, and Plumbing Industries. Valterra's new maquiladora Contract Manufacturing Division offers low-cost custom manufacturing and assembly services to client companies seeking to reduce costs and improve the bottom line. Valterra Products was founded in 1981 and is based in Mission Hills, California.

Buy -
SELLER

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 16 of 80
Sector (Manufacturing) 4 of 8
Type (Add-on Acquisition) 3 of 27
State (Illinois) 2 of 9
Country (United States) 15 of 76
Year (2011) 2 of 5
Size (of disclosed) 7 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-07 Pyramid Healthcare

Duncansville, Pennsylvania, United States

Pyramid Healthcare is a provider of drug/alcohol and mental health treatment for adults and adolescents with 21 treatment facilities throughout Pennsylvania. Pyramid Healthcare is based in Duncansville, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-01 Union Tractor

Nisku, Alberta, Canada

Union Tractor is a distributor of replacement parts for construction equipment in Western Canada. The Company currently distributes over 100,000 parts for construction equipment sourced from almost 2,000 active suppliers. Union Tractor operates from seven strategic locations throughout Alberta and British Columbia. Union Tractor was founded in 1927 and is based in Nisku, Alberta.

Buy -
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