Jones Day has advised The Timken Company in its acquisition of Torsion Control Products, Inc., a manufacturer of engineered torsional couplings used in the construction, agriculture and mining industries.
Based in Rochester Hills, Mich., Torsion Control Products serves an established original equipment customer base primarily in North America. In 2016, sales were approximately $20 million.
This acquisition is part of the company’s strategy to grow its portfolio of bearings and mechanical power transmission products. In recent years, acquired mechanical offerings have included gears and gear drives, chain, belts, couplings and lubrication delivery systems, as well as a variety of related services. These product lines are marketed under strong industrial brands including Timken®, Philadelphia Gear®, Drives®, Lovejoy® and Interlube™.
Terms of the transaction were not disclosed.
The Timken Company engineers, manufactures and markets bearings, gear drives, belts, chain, couplings, and related products, and offers a spectrum of powertrain rebuild and repair services. The leading authority on tapered roller bearings, Timken today applies its deep knowledge of metallurgy, tribology and mechanical power transmission across a variety of bearings and related systems to improve reliability and efficiency of machinery and equipment all around the world. The company’s growing product and services portfolio features many strong industrial brands including Timken®, Fafnir®, Philadelphia Gear®, Drives®, Lovejoy® and Interlube™. Known for its quality products and collaborative technical sales model, Timken posted $2.7 billion in sales in 2016. With more than 14,000 employees operating from 28 countries, Timken makes the world more productive and keeps industry in motion.
Jones Day has advised The Timken Company in its acquisition with a team led by James Dougherty.
Involved fees earner: James Dougherty – Jones Day;
Law Firms: Jones Day;
Clients: Timken Company;