Gates Acquires The Timken Company’s Belts Business

Gates to Acquire The Timken Company’s Belts Business

May 1, 2026

Industrial Services

Gates Industrial Corporation plc entered into a definitive agreement to acquire The Timken Company’s belts business, including select manufacturing assets. The deal is expected to close in the third quarter of 2026, subject to customary closing conditions, with the entities operating separately until completion.

Belt Power Acquires Sparks Belting Company, Inc. (U.S. assets)

January 15, 2025

Industrial Services

Belt Power, a Platte River Equity portfolio company, has acquired the U.S. assets of Sparks Belting Company, Inc., a Grand Rapids–based fabricator and distributor of conveyor belting, accessories and power transmission products. The transaction is an add-on acquisition (Belt Power's sixth since Platte River's 2022 investment) intended to expand Belt Power's geographic presence, fabrication capabilities and customer base across industrial end markets such as food, packaging and logistics.

The Timken Company Acquires CGI, Inc.

August 5, 2024

IT Services

The Timken Company has completed its previously announced acquisition of CGI, Inc., a Nevada-based manufacturer of precision drive systems with a concentration in medical robotics. The acquisition expands Timken’s motion-control platform and complements its existing Cone Drive and Spinea offerings.

Belt Power Acquires Blankenship Belting

October 30, 2023

Industrial Services

Belt Power, a Platte River Equity portfolio company, has acquired Blankenship Belting, a division of Blankenship Equipment Repair. The add-on expands Belt Power's fabrication and distribution footprint in the Pacific Northwest and broadens its service offerings to end markets including paper & packaging, food processing, material handling and general industrial customers.

Belt Power Acquires Dunham Rubber & Belting Corporation

January 3, 2023

Industrial Services

Belt Power, LLC, a Platte River Equity portfolio company, has completed the acquisition of Dunham Rubber & Belting Corporation. Dunham — a fabricator and distributor with locations in Greenwood, Shelbyville and Fort Wayne, Indiana — expands Belt Power's fabrication capabilities and geographic footprint to better serve food processing, material handling, pharmaceutical and other industrial customers nationwide.

Midwest Industrial Rubber Acquires The Atlanta Belting Company

May 2, 2019

Industrial Services

Midwest Industrial Rubber (a portfolio company of Incline Equity Partners) has acquired The Atlanta Belting Company, a specialty fabricator and distributor of lightweight conveyor belting and accessories. The acquisition adds four branch locations in the Southeast, expanding MIR’s national footprint and is the company’s fifth add-on in eleven months to broaden geographic reach and product offerings.