Posted to News on 18th Sep 2019, 00:00
Timken to acquire Beka Lubrication
The Timken Company, a world leader in engineered bearings and power transmission products, has reached an agreement to acquire Beka Lubrication, a leading global supplier of automatic lubrication systems, for approximately $165 million. The company serves a diverse range of industrial sectors including wind, food and beverage, rail, on- and off-highway and other process industries.
“The acquisition of Beka expands our global leadership in the highly attractive automatic lubrication systems market sector, increases our geographic scale and market coverage in Europe and Asia and will create new opportunities to serve wind and other industrial end markets more fully,” said Richard Kyle, Timken president and CEO. “Beka is a premier brand and technical leader, and like our Groeneveld business, offers automatic and central lubrication systems that reduce operating costs and extend equipment life. We expect to realise significant synergies, margin expansion and revenue growth opportunities through the combined Groeneveld-Beka business.”
