Deal Details
Sale to The Timken Company
Summary
Baird served as the exclusive financial advisor to Drives on this transaction
About
Drives, LLC (“Drives” or the “Company”) has been acquired by The Timken Company (“Timken”) (NYSE:TKR).Headquartered in Fulton, Illinois, Drives is one of the world’s leading independent designers and manufacturers of power transmission and conveyor chains and augers for agricultural and industrial applications. The Company’s products are sold to both Original Equipment Manufacturers in the agricultural equipment sector as well as to customers serving diversified end markets such as food and beverage, oil and natural gas, metals, mining and packaging.
The Timken Company is a global friction management and power transmission products and services business with operations in 30 countries and 2010 sales of $4.1 billion. Timken is one of the world's leading producers of highly engineered antifriction bearings and related products and services as well as alloy steel and components. Timken was founded in 1899 and is headquartered in Canton, Ohio.
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- Date
- October 2011
- Company
- Drives LLC
- Transaction
- M&A
- Sectors
- Industrial
- Target Location
- North America
- Acquiror Location
- North America
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