The Timken Company To Acquire GGB Bearing Technology And Further Complete Its Lineup Of Engineered Bearings

On September 6, Enpro Industries, Inc. (NYSE: NPO) announced that it had entered into an agreement to sell its Surface Engineering Solutions business GGB to The Timken Company for $305 million in cash and to acquire GGB’s French The business is negotiated separately, but the closing date needs to be adjusted according to the usual practice.

The Timken Company has signed an agreement to acquire GGB Bearing Technology (GGB), a business unit of Impro Industries.

Founded in 1899, GGB serves a wide variety of customers, markets, regions and applications, and its product portfolio complements Timken’s industry-leading existing engineered bearing solutions.

GGB’s fiscal 2022 sales are expected to reach $200 million.

Richard G. Kyle, Timken President and CEO, said: “GGB has a strong tradition of delivering high-performance products to customers who are the best in every industry.

This acquisition will generate significant synergies and complementary products with stable growth prospects, which in turn will help us achieve meaningful business expansion. GGB’s leading line of metal-polymer bearings will further enhance Timken’s ability to provide customers with the best solutions for their most challenging friction management applications.

The cultural fit between GGB and Timken is also strong, including a commitment to corporate social responsibility and a range of environmentally sustainable solutions. ”

GGB is a global technology and market leader in high-quality engineered metal-polymer plain bearings with outstanding expertise in materials science, surface engineering and tribology.

With manufacturing facilities in the US, Europe and China, GGB currently employs approximately 900 people and has a global engineering, distribution and sales footprint. The company’s tribological solutions in plain bearing coatings will complement Timken’s leadership in rolling bearings.

GGB’s products are primarily used in industrial applications including pumps and compressors, HVAC, off-road equipment, energy, material handling and aerospace.

Timken will use cash on hand and existing revolving credit to fund the acquisition. The transaction, which is also subject to customary closing conditions, is expected to close in the fourth quarter of this year. Timken expects the acquisition to deliver earnings growth in the first full quarter following the closing of the transaction.

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