Bearings manufacturer acquires QM Bearings and Power Transmission; also, Flowserve expands with acquisition in the motion and control industry
Bearings and power transmission products maker The Timken Co. announced this week that it will acquire QM Bearings and Power Transmission, Inc., of Ferndale, Wash. Terms of the deal were not disclosed. QM makes spherical roller bearing steel housed units and elastomeric and steel couplings used in demanding processes such as sawmill and logging operations.
The deal is part of Timken’s strategy to expand its penetration in high-performance applications and extend its power transmission capabilities beyond its original, core bearing business, the company said.
In addition, Timken said QM’s product offering will strengthen the company’s presence in the roller housed unit category and provide additional offerings for markets such as forestry, which require high-performance, durable products.
The acquisition is expected to close by the fourth quarter of 2010.
In other acquisitions news, Dallas-based fluid motion and control products maker Flowserve Corp. announced late last week that it acquired Valbart Srl, a privately owned Italian maker of trunnion-mounted ball valves used primarily in the oil and gas industry.
Flowserve acquired Valbart in a cash transaction valued at 156 million EUR (roughly $200 million), which includes about 25 million EUR (roughly $32 million) of existing Valbart net debt that was repaid at closing, the company said. Other terms of the deal were not disclosed.