The Timken Company Acquires GGB from EnPro for $305 Million
November 7, 2022
The Timken Company completed the acquisition of GGB, EnPro Industries’ mission-critical surface engineering and bearing business, for total proceeds of $305 million (subject to closing date purchase price adjustments). EnPro completed the divestiture to streamline its portfolio around Advanced Surface Technologies and Sealing Technologies and to reduce leverage; Timken said the deal expands its engineered bearing portfolio and complementary capabilities.
- Buyers
- The Timken Company
- Targets
- GGB
- Sellers
- EnPro Industries, Inc.
- Industry
- Manufacturing
- Location
- New Jersey, United States
- Transaction Type
- Divestiture
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