The Timken Company, a global leader in bearings and mechanical power transmission products, announced that it has acquired the assets of PT Tech, Inc., a manufacturer of engineered clutches, brakes, hydraulic power take-off units and other torque management devices used in mining, aggregate, wood recycling and metals industries.
This acquisition advances the company’s strategy to grow its portfolio of mechanical power transmission products to complement its strong position in engineered bearings. In recent years, Timken has completed a number of acquisitions featuring products adjacent to its core bearing lines. This includes belts, gears and gear drives, chain, couplings and lubrication delivery systems, as well as a variety of related services, all marketed under strong industrial brands including Timken®, Philadelphia Gear®, Drives®, Lovejoy® and Interlube™.
Terms of the transaction were not disclosed.
Jones Day has advised The Timken Company in its acquisition with a team led by partner James Dougherty.
Involved fees earner: James Dougherty – Jones Day;
Law Firms: Jones Day;
Clients: Timken Company;