Timken to Acquire BEKA Lubrication
09/17/2019 - The Timken Co. has reached an agreement to acquire automatic lubrication systems manufacturer BEKA Lubrication for approximately US$165 million in cash and debt, Timken said on Monday.
"The acquisition of BEKA expands our global leadership in the highly attractive automatic lubrication systems market sector, increases our geographic scale and market coverage in Europe and Asia, and will create new opportunities to serve wind and other industrial end markets more fully," Richard Kyle, Timken’s president and chief executive officer, said in a statement.
Timken said the acquisition will make it the world’s second-largest producer of industrial automatic lubrication systems.
Family-owned BEKA is headquartered in Pegnitz, Germany, and employs 900 people. The deal is pending German regulatory review, but is expected to close in the fourth quarter of this year.
