Global Bearing company Timken agreement to acquire Ontario based BEKA Lubrication, for approximately $165 million. BEKA is a leading global supplier of automatic lubrication systems.
Details are provided below:
- Timken, is a world leader in engineered bearings and power transmission products
- BEKA provides services to 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 G. Kyle, Timken president and chief executive officer. “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 realize significant synergies, margin expansion and revenue growth opportunities through the combined Groeneveld-BEKA business.”