The Timken Co., a provider of engineered bearings and power transmission products, has agreed to acquire Spinea, a European cycloidal reduction gears, and actuators manufacturer.
Spinea will help Timken scale their automation process, which was the firm’s second-largest market in 2021. Spinea’s sales are expected to be around $40 million for the full year 2022.
Richard Kyle, Timken’s president and chief executive officer, said, “Spinea brings an exciting new product line with differentiated technology and state-of-the-art manufacturing to Timken. We plan to leverage our global capabilities to scale the business and introduce Spinea’s next-generation solutions to customers around the world.”