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

Gates has acquired Timken’s belts business, a industrial equipment business in the United States. Timken’s belts operations produce power transmission belt solutions used in industrial machinery and manufacturing applications, supporting uptime and efficient motion control. Gates acquisitions in North America focus on expanding its power transmission portfolio and strengthening its industrial equipment acquisition strategy with a strategic acquisition of belt technology and customer relationships. The announced add on acquisition is structured as a strategic acquisition and is categorized as a manufacturing M&A add on acquisition, with deal size undisclosed and terms not publicly specified.