Engineered bearings and industrial motion products maker The Timken Company TKR has acquired Des-Case Corp., a manufacturer of specialty filtration products for industrial lubricants. The financial terms were not disclosed.
Founded in 1983, Des-Case's revenue for the calendar year 2023 is expected to be around $40 million.
Most of Des-Case products are consumables with a highly repetitive buying cycle that are sold through many of the same distributors that carry Timken's bearings and other products.
Its product offerings include breathers, filter elements, condition monitoring, lubrication storage and filter systems used throughout the entire lubricant lifecycle.
"Des-Case is a technical leader in branded filtration solutions that sit adjacent to our automatic lubrication systems," said Christopher Coughlin, Timken executive vice president, president of Industrial Motion.
Des-Case employs approximately 120 people and operates manufacturing facilities in Tennessee and the Netherlands.
Timken funded the transaction with a combination of cash on hand and its existing revolving credit facility.
Timken held $352.3 million in cash and equivalents as of June 30, 2023.
Price Action: TKR shares closed higher by 2.63% at $78.43 on Friday.
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