- Timken ( NYSE: TKR ) said Monday it would buy Nadella Group, a leading European manufacturer of linear guides, telescopic rails, actuators and systems and other specialized industrial motion solutions, from ICG plc.
- Nadella has 450 employees and operates manufacturing facilities in Europe and China.
- The transaction is expected to close in the first quarter of 2023 and will be funded with cash on hand and borrowings from committed credit facilities.
- Timken anticipates the acquisition will be accretive to adjusted earnings in 2023.
For further details see:
Timken boosts linear motion portfolio with Nadella acquisition