The Timken Co. has reached an agreement with pan-European firm Chequers Capital and IGI Private Equity to acquire Rollon Group.
Rollon, with sales projected at about $140 million for 2018, specializes in the design and manufacture of linear guides, telescopic rails and linear actuators used in a wide range of industries such as passenger rail, aerospace, packaging and logistics, medical and automation.
Based near Milan, Italy, Rollon has manufacturing operations in Italy, Germany and the U.S., and employs approximately 600 people.
"Like Timken, Rollon is an expert in motion technology and is recognized for developing customized linear motion products for their customers' application challenges,” Timken CEO Richard G. Kyle, said in a statement. “With its proven operating model and value proposition, Rollon will open up exciting new growth opportunities for the company."
Timken expects the acquisition to be accretive to earnings in the first year of ownership. The transaction, which is subject to customary regulatory approvals, is expected to close in late September 2018 and will be funded with debt.