M&A Deal Summary

Timken Acquires Lovejoy

On July 8, 2016, Timken acquired machinery company Lovejoy for 66M USD

Acquisition Highlights
  • This is Timken’s 3rd transaction in the Machinery sector.
  • This is Timken’s 9th largest (disclosed) transaction.
  • This is Timken’s 17th transaction in the United States.
  • This is Timken’s 2nd transaction in Illinois.

M&A Deal Summary
Date 2016-07-08
Target Lovejoy
Sector Machinery
Buyer(s) Timken
Deal Type Add-on Acquisition
Deal Value 66M USD

Target

Lovejoy

Downers Grove, Illinois, United States
Lovejoy, Inc. is a manufacturer of premium industrial couplings and universal joints.

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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 20 of 40
Sector (Machinery) 3 of 11
Type (Add-on Acquisition) 18 of 35
State (Illinois) 2 of 3
Country (United States) 17 of 28
Year (2016) 1 of 2
Size (of disclosed) 9 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-21 Timken Alcor Aerospace Technologies

Mesa, Arizona, United States

Timken Alcor Aerospace Technologies, Inc. designs and supplies aftermarket parts to support businesses conducting maintenance, repair, and overhauls (MROs) in aerospace markets primarily located in North America.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-01 EDT

Vancouver, Washington, United States

EDT Corp. is a manufacturer of polymer housed units and stainless steel ball bearings used widely by the food and beverage industry. EDT Corp. is based in Vancouver, Washington.

Buy -
Mergr

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