Timken belts business Acquired by Gates | Manufacturing M&A Deal

Gates has acquired Timken’s belts business, a industrial equipment business in Ohio, for $4.6 billion. Gates acquisitions expand its power transmission and aftermarket belt offerings by adding Timken belt products used in industrial applications. The Timken belts business acquisition supports manufacturing M&A goals for Gates, with OH acquisitions strengthening its strategic footprint in industrial equipment. The add on acquisition is categorized as an add on acquisition and strategic acquisition, with Gates as a strategic buyer pursuing an add on acquisition to broaden product lines.