Timken acquires Lagersmit from Anders Invest
The Timken Company (NYSE:TKR), a US-based global leader in engineered bearings and industrial motion products, has acquired Lagersmit, a Netherlands-based manufacturer of highly engineered sealing solutions for demanding marine, dredging, water, tidal energy and other industrial applications.
The Timken Company designs a growing portfolio of engineered bearings and industrial motion products. With more than a century of knowledge and innovation, The Timken Company continuously improves the reliability and efficiency of global machinery and equipment to move the world forward. Timken posted US$ 4.5 billion in sales in 2022 and employs more than 19,000 people globally, operating from 46 countries.
“Lagersmit adds engineered sealing products to our portfolio and strengthens our presence in the attractive marine market,” said Christopher Coughlin, executive vice president at The Timken Company and president of Industrial Motion. “The business serves leading propulsion manufacturers, ship owners, pump makers and other industrial customers around the globe that require advanced sealing systems. Lagersmit is a high-quality brand with premium products that are highly complementary to our existing portfolio.”
Lagersmit is a manufacturer of highly engineered sealing solutions for demanding marine, dredging, water, tidal energy and other industrial applications. Lagersmit was founded in 1856 and employs approximately 90 people. The business is expected to generate revenues of approximately US$40 million in 2023.
Oaklins’ team in the Netherlands acted as the exclusive buy-side M&A advisor to The Timken Company and assisted in all aspects, from initiating the transaction to structuring and negotiating premium deal terms. This deal complements a long list of mergers, acquisitions and divestments Oaklins has advised on in the marine equipment industry. On the back of this track record, Oaklins has detailed insights in sector dynamics, valuation trends and personalities as well as buyer and target universe.
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