• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Bearing Tips

Ball Bearings, Roller Bearings, Thrust Bearings, Tapered Bearings

  • Bearing Basics
  • Ball Bearings
  • Roller Bearings
  • Thrust Bearings
    • Ball Thrust
    • Roller Thrust
    • Tapered Roller Bearings
  • Lubrication
  • Resources
    • Video
    • Podcasts
    • Suppliers
  • Advertise
  • Subscribe
You are here: Home / Industry News / Timken to acquire Groeneveld Group

Timken to acquire Groeneveld Group

June 28, 2017 By Mike Santora

Timken-logo-image-PRThe Timken Company has announced that it has reached an agreement to acquire Groeneveld Group, a provider of automatic lubrication solutions used in on- and off-highway applications, for approximately $280 million. For the 12 months ending May 31, 2017, Groeneveld Group sales were approximately $105 million. The transaction is expected to be accretive to adjusted earnings per share in 2017.  Additionally, Groeneveld Group has a strong margin profile, which is expected to be accretive to Timken’s EBITDA margin and to be further enhanced as a result of synergies.

“The acquisition of Groeneveld will further expand our presence in the automatic lubrication systems space, which we entered in 2013 with our acquisition of Interlube,” said Richard G. Kyle, Timken president and chief executive officer. “Groeneveld will bring a strong brand and management team, a global customer base and an industry-leading product portfolio that has an attractive market position in off-highway equipment and heavy trucks.”

Groeneveld Group is headquartered in Gorinchem, Netherlands, with manufacturing facilities in Italy. Automatic lubrication delivery systems, which enhance vehicle and machine uptime through automated maintenance and safety support, represent the predominance of the company’s offering. The company also has a small telematics business, Groeneveld ICT, which provides solutions for truck fleet operators. Groeneveld Group employs approximately 600 people.

“We’re excited to be gaining such a well-known and respected business with a differentiated value proposition, deep customer relationships and a talented workforce,” said Kyle. “We look forward to welcoming the Groeneveld team to Timken.”

As part of the transaction, Henk Groeneveld, sole shareholder and non-executive president, will be retiring from the company. “Henk led Groeneveld for four decades and made it the company it is today, and he has put in place a great leadership team,” said Kyle. “We wish Henk and his family well in retirement.”

The transaction is expected to close in early July and will be funded with a combination of cash and debt.
Timken
www.timken.com

Filed Under: Industry News Tagged With: Timken

Primary Sidebar

Search

RSS Featured White Papers

  • Polymers Outperform Metals In Precision Gearing
  • Crossed Roller Bearings Offer Many Benefits for Robotic Systems
  • Miniature Linear Bearings Offer Maximum Performance

Footer

Bearing Tips

Design World Network

Design World Online
The Robot Report
Coupling Tips
Motion Control Tips
Linear Motion Tips
Fastener Engineering
Wire and Cable Tips

Bearing Tips

Subscribe to our newsletter
Advertise with us
Contact us
About us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy