Add-on Acquisition • Manufacturing

Timken Acquires The Torrington Company

On February 18, 2003, Timken acquired manufacturer The Torrington Company from IR for 840M USD

Acquisition Context
  • This is Timken’s 2nd transaction in the Manufacturing sector.
  • This is Timken’s largest (disclosed) transaction.
  • This is Timken’s 2nd transaction in the United States.
  • This is Timken’s 1st transaction in Connecticut.

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M&A Deal Summary

Date February 18, 2003
Target The Torrington Company
Sector Manufacturing
Buyer(s) Timken
Sellers(s) IR
Deal Type Add-on Acquisition
Deal Value 840M USD

Target Company

The Torrington Company

Torrington, Connecticut, United States
Torrington is a worldwide producer of needle roller, heavy-duty roller and ball bearings and motion control components and assemblies. Torrington is based in Torrington, Connecticut.
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Buyer Overview 1

Buyer

Timken

North Canton, Ohio, United States

Category Company
Founded 1899
Sector Machinery
Employees19,000
Revenue 4.6B USD (2024)
DESCRIPTION
Timken's corporate headquarters in North Canton, Ohio.
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 Context for Buyer #
Overall 2 of 40
Sector: Manufacturing 2 of 18
Type: Add-on Acquisition 2 of 35
State: Connecticut 1 of 3
Country: United States 2 of 28
Year: 2003 1 of 1
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1990-04-24 MPB

Keene, New Hampshire, United States

MPB Corp. is an aircraft bearings supplier. MPB was formed in 1941 and is based in Keene, New Hampshire.

Buy $185M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-05-11 Alcor Engine Co.

Gilbert, Arizona, United States

Alcor is a producer of direct replacement parts for gas turbine engines and components used in the aviation industry. Alcor manufactures and repairs a broad range of components used in turbine engine power plants. Alcor also provides specialized repair and restoration services through its proprietary technologies.

Buy -

Seller Profile 1

SELLER

IR

Davidson, North Carolina, United States

Category Company
Founded 1859
Sector Machinery
Employees18,000
Revenue 7.2B USD (2024)
DESCRIPTION
Ingersoll Rand's corporate headquarters in Davidson, North Carolina.
Ingersoll Rand's corporate headquarters in Davidson, North Carolina.

IR manufactures engineered products including compressors, liquid ring pumps and blowers for various industrial, medical, environmental, transportation and process applications, pumps used in the petroleum and industrial market segments and other fluid transfer equipment, such as loading arms and dry break couplers, serving chemical, petroleum and food industries. IR was founded in 1859 and is based in Davidson, Wisconsin.


Deal Context for Seller #
Overall 1 of 8
Sector: Manufacturing 1 of 2
Type: Add-on Acquisition 1 of 2
State: Connecticut 1 of 1
Country: United States 1 of 7
Year: 2003 1 of 1
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-06-03 Electronic Technologies

Dover Plains, New York, United States

Electronic Technologies Corp. (ETC), based in Dover Plains, New York. ETC provides specialty security systems integration, serving as a single source for integrating a facility’s access-control, closed-circuit television and fire/life safety systems.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-08-07 Integrated Access Systems

Parsippany, New Jersey, United States

Integrated Access Systems, Inc. is a provider of specialty security systems integration.

Buy -