Timken Completes Acquisition of Nadella Group

Rhea-AI Summary

The Timken Company (NYSE: TKR) has successfully completed its acquisition of Nadella Group, a prominent European manufacturer specializing in linear guides and other industrial motion solutions. This acquisition, announced on April 4, 2023, aligns with Timken's strategy to enhance its industrial motion product portfolio, which previously expanded with the 2018 purchase of Rollon. Nadella, based in Italy, recorded approximately €100 million in revenue in 2022 and employs 450 people across Europe and China. This addition is expected to bolster Timken's presence in the linear motion market.

Positive

• Acquisition of Nadella Group aligns with Timken's strategy to enhance its industrial motion product portfolio.
• Nadella recorded €100 million in revenue in 2022, contributing significantly to potential growth.
• Strengthens Timken's market position in linear motion solutions.

Negative

• None.

NORTH CANTON, Ohio, April 4, 2023 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a global leader in engineered bearings and industrial motion products, has completed its previously announced acquisition of Nadella Group, a leading European manufacturer of linear guides, telescopic rails, actuators and systems and other specialized industrial motion solutions.

Based in Italy, Nadella has 450 employees and operates manufacturing facilities in Europe and China. The company posted revenue of approximately €100 million in 2022.

In 2018, Timken added linear motion products to its portfolio when it acquired Rollon, a leader in engineered linear guides, telescopic rails, actuators and systems, serving robotics, automation, logistics and other attractive market sectors. Nadella will further Timken's strategy to expand and scale its leading industrial motion product portfolio.

About The Timken Company 

The Timken Company (NYSE: TKR; www.timken.com) designs a growing portfolio of engineered bearings and industrial motion products. With more than a century of knowledge and innovation, we continuously improve the reliability and efficiency of global machinery and equipment to move the world forward. Timken posted $4.5 billion in sales in 2022 and employs more than 19,000 people globally, operating from 46 countries. Timken has been recognized among America's Most Responsible Companies by Newsweek, the World's Most Ethical Companies^® by Ethisphere, America's Most Innovative Companies by Fortune and America's Best Large Employers, Best Employers for New Graduates and Best Employers for Women by Forbes.

Media Relations: 
Scott Schroeder 
234.262.6420 
scott.schroeder@timken.com

Investor Relations: 
Neil Frohnapple 
234.262.2310  
neil.frohnapple@timken.com

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SOURCE The Timken Company

FAQ

What is the strategic importance of Timken's acquisition of Nadella Group?

The acquisition of Nadella Group enhances Timken's industrial motion product portfolio and strengthens its market position in linear motion solutions.

When was the acquisition of Nadella Group completed by Timken?

The acquisition was completed on April 4, 2023.

What was Nadella Group's revenue in 2022?

Nadella Group reported revenue of approximately €100 million in 2022.

How many employees does Nadella Group have?

Nadella Group employs around 450 people.

Where are Nadella Group's manufacturing facilities located?

Nadella Group operates manufacturing facilities in Europe and China.