Timken Expands Linear Motion Offerings with Rosa Sistemi Acquisition

Rhea-AI Summary

The Timken Company has acquired Rosa Sistemi, a European designer and manufacturer of motion products, for geographical expansion and operational synergies. Timken expects Rosa Sistemi to generate around $15 million in revenue in 2023.

NORTH CANTON, Ohio, Oct. 2, 2023 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a global leader in engineered bearings and industrial motion products, has acquired Rosa Sistemi S.p.A., a European designer and manufacturer of roller guideways, linear bearings, customized linear systems and actuators, commercialized ball guideways and precision ball screws. The company serves customers across diverse end markets, including automation and machine tool.

"Rosa Sistemi's roller guides and customized actuators are highly complementary product lines to our Rollon, Nadella and Intelligent Machine Solutions (iMS) linear motion product offerings," said Christopher Coughlin, Timken executive vice president and president of Industrial Motion. "This acquisition provides attractive operational synergies and geographical expansion opportunities to scale and grow the business leveraging our global footprint."

Timken entered the linear motion space in 2018 with the acquisition of Rollon, a leader in linear guides, telescopic rails, and linear actuators and systems used in a wide range of industrial and commercial applications. To further expand and strengthen its position in the attractive linear motion space, Timken acquired iMS in 2021 and, earlier this year, added Nadella's complementary product portfolio. 

Rosa Sistemi is expected to generate around $15 million in revenue in calendar year 2023. The company employs approximately 65 people and has its headquarters, R&D and high-precision manufacturing facility in Milan, Italy.

Timken funded the transaction with cash on hand.

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.

Safe Harbor
Certain statements in this release (including statements regarding the company's forecasts, estimates, plans and expectations) that are not historical in nature are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, the statements related to expectations regarding the expected future financial performance of the newly acquired business are forward-looking. The company cautions that actual results may differ materially from those projected or implied in forward-looking statements due to a variety of important factors, including: the inability to successfully integrate the newly acquired business into the company's operations or achieve the expected synergies associated with the acquisition; negative impacts to the newly acquired business as a result of global conflicts and hostilities; and adverse changes in the markets served by the newly acquired business. Additional factors are discussed in the company's filings with the Securities and Exchange Commission, including the company's Annual Report on Form 10-K for the year ended Dec. 31, 2022, quarterly reports on Form 10-Q and current reports on Form 8-K. Except as required by the federal securities laws, the company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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

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

View original content to download multimedia:https://www.prnewswire.com/news-releases/timken-expands-linear-motion-offerings-with-rosa-sistemi-acquisition-301943341.html

SOURCE The Timken Company