Timken to use cash, committed facilities for Nadella acquisition

Chicago, Jan. 30 – Timken Co. will use cash and borrowings from committed credit facilities for its acquisition of Nadella Group from ICG plc, according to a press release.

The transaction is expected to close in the first quarter of 2023.

Timken anticipates the acquisition will be accretive to adjusted earnings in 2023.

Nadella posted revenue of around €100 million in 2022.

Timken is a Canton, Ohio-based designer of engineered bearings and industrial motion products. Nadella is a manufacturer of linear guides, telescopic rails, actuators and systems and other specialized industrial motion solutions.

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