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Announced

Completed

Timken completed the acquisition of GGB Bearing Technology from EnPro Industries for $305m.

Financials

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Transaction Value£265m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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industrial applications

Single Bidder

Acquisition

France

tribological polymer coating

Friendly

plain bearings

industrial manufacturing

Private

Cross Border

Majority

Diversified Industrials

Completed

Synopsis

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Timken, a provider of engineered bearings and industrial motion products, completed the acquisition of GGB Bearing Technology, a provider of self-lubricating, prelubricated plain bearings and tribological polymer coating for various industries and applications, from EnPro Industries, an industrial technology company, for $305m. “The sale of GGB marks a significant milestone in our transformation to create a streamlined organization focused on our AST and Sealing Technologies segments, positioning Enpro for compelling growth. The sale also provides us with enhanced financial flexibility to expand our leading-edge capabilities in attractive end markets. On behalf of my Enpro colleagues, I thank the GGB team for their contributions to our company and wish them continued success in their next chapter as part of Timken," Eric Vaillancourt, Enpro President and CEO.

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