The Timken Co. (NYSE: TKR), Canton, OH, has agreed to acquire linear motion products maker Rollon Group from pan-European firm Chequers Capital and IGI Private Equity.
Rollon specializes in the design and manufacture of linear guides, telescopic rails and linear actuators used in industries such as passenger rail, aerospace, packaging and logistics, medical, and automation. Rollon sales are expected to be about $140 million for the full year 2018.
Rollon is based in Milan, Italy. The acquisition is expected to close in late September and will be funded with debt, the company said.
Separately, Timken reported second-quarter sales of $413.5 million, a 22 percent increase over the second quarter of 2017. Net income for the quarter was $8.4 million.