Timken Co. adds Illinois

JACKSON TWP. Timken Co. has expanded its bearings products with the addition of Aurora Bearing Co.

Terms of the deal, which was announced Tuesday morning, weren't disclosed.

Aurora Bearing makes rod ends and spherical plain bearings, which are used in a wide range of industries, including aerospace and defense, racing, off-highway equipment and packaging. Rod ends and spherical plain bearings are new products for Timken.

Christopher A. Coughlin, Timken's executive vice president and group president, said adding Aurora Bearing builds on Timken's global leadership position in engineered bearings by increasing the company's product breadth.

"The Aurora product line and market mix complements our portfolio very well," Coughlin said in a press release announcing the deal.

Aurora Bearing's sales are expected to be about $30 million for 2020. Timken believes bringing the business under its umbrella can accelerate Aurora's growth.

Based in Montgomery, Ill., Aurora Bearing has about 220 employees and has been privately owned and operated. A group of bearing industry professionals with backgrounds the rod end and spherical bearing industry formed the company in 1971.

It's the first acquisition for Timken during 2020. The company in recent years has been broadening its product diversity by acquiring businesses in bearing or related markets. The latest deal advances Timken's strategy to grow engineered bearings business while diversifying its portfolio into related markets.