Harris Williams & Co. Advises Philadelphia Gear Corporation in Sale to Timken

RICHMOND, Va.--(BUSINESS WIRE)--

Harris Williams & Co., premier middle market investment bank, announces its advisory role in the sale of the Philadelphia Gear Corporation, a leading provider of high-performance gear drives and aftermarket repair and maintenance services, to strategic buyer Timken Gears & Services Inc., a subsidiary of The Timken Company (Timken; NYSE:TKR). The transaction, valued at approximately $200 million, closed on July 1, 2011. Harris Williams & Co. acted as the exclusive advisor to Philadelphia Gear. The transaction was led by Jon Nemo from the firm's Aerospace, Defense & Government Services (ADG) Group as well as Tiff Armstrong, Matt White and Matt McLain from the firm's Energy & Power (E&P) Group.

Philadelphia Gear, based in King of Prussia, PA and a portfolio company of Wind River Holdings, is a globally-recognized supplier of precision gear products and gear services for industrial, power generation, oil and gas, infrastructure and military marine industries. The company's platform includes aftermarket repair, maintenance and onsite technical services.

Wind River is a privately owned investment company based in King of Prussia, PA. Wind River selectively acquires businesses in a variety of industries, ranging from preschool education to high performance cordage. Wind River's proprietary Strategic Architecture Process provides its operating companies with strategic direction, management support and access to capital – all with the goal of creating sustainable long-term growth.

Timken provides innovative friction management and power transmission products and services that are critical to help hard-working machinery perform efficiently and reliably. Timken had sales of $4.1 billion in 2010 and has operations in 29 countries with approximately 20,000 employees.

Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. PNC, is the premier middle market advisor with a two-decade legacy of sell side excellence serving clients worldwide. The firm is focused exclusively on the middle market providing sell side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services. The firm's E&P Group has experience across a broad range of sectors, including energy efficiency & cleantech, industrial & infrastructure services, oil & gas products and services, power equipment and services, engineering & construction and environmental services. For more information on Harris Williams & Co.'s efforts in E&P, please contact Tiff Armstrong or Matt White at +1 (804) 648-0072. The firm's ADG Group offers strategic advice to a global base of leading aerospace, defense, and government services clients. For more information about our efforts in ADG, contact Jon Nemo at +1 (267) 675-5900.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, an Appointed Representative of Sturgeon Ventures LLP, which is authorized and regulated by the Financial Services Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business in the U.S. and Europe, respectively.

For general release inquiries, please contact Kimberly Baker, marketing director, at +1 (804) 648-0072.