Market Overview

Timken Acquires Wazee

Share:

The Timken Company (NYSE: TKR) today announced its acquisition of the assets of Wazee Companies.

Based in Denver, Colo., Wazee had trailing 12-month sales through December 2012 of approximately $30 million. The acquisition brings Timken additional diversified services including motor rewind, generator rebuild, electric controls, industrial bridge cranes and uptower wind maintenance and repair, operating from four western U.S. locations.

"We continue to focus our strategy on further diversifying the Timken services portfolio," said Carl Rapp, vice president of industrial services for Timken.  "Wazee complements our industrial repair capabilities at existing customers and takes us into critical motor and generator services.

"Wazee has a strong reputation in the region it serves and is led by an experienced management team," said Rapp. "They bring great technical skills and provide an excellent footprint for us to expand our bearing and gearbox repair services." Wazee currently operates out of

See full press release

 

Related Articles (TKR)

View Comments and Join the Discussion!

Posted-In: M&A News Guidance Contracts Management Global

Need corporate guidance data?
Click here to see licensing options.
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com