Financial terms of the deal were not disclosed. Timken said it funded the transaction with a combination of cash on hand and its existing revolving credit facility.
Des-Case’s revenue for the calendar year 2023 is expected to be around $40 million, according to a news release announcing the deal.
“Des-Case is a technical leader in branded filtration solutions that sit adjacent to our automatic lubrication systems,” said Christopher Coughlin, Timken Executive Vice President and President of Industrial Motion. “Des-Case is known for innovative products and services that improve equipment reliability, increase profitability and provide environmental benefits. By adding new products that complement our existing portfolio, this acquisition provides strong synergy opportunities, including cross-selling and international expansion.”
Des-Case employs approximately 120 people and operates manufacturing facilities in Tennessee and the Netherlands.
The acquisition is Timken’s third in 2023. In February, the company agreed to acquire the assets of American Roller Bearing Company, a North Carolina-based manufacturer of industrial bearings. A few days earlier, Timken said it agreed to acquire Nadella Group — a manufacturer of motion technology headquartered in Milano, Italy — from ICG plc.
For the full-year 2022, Timken reported sales of $4.5 billion, up 8.8% from 2021.