NN Inc. (Nasdaq: NNBR) has acquired a majority stake in RFK Valjcici Konjic for an undisclosed amount.
RFK, headquartered in Konjic, Bosnia, manufactures tapered roller bearing products that are used by customers that serve the European truck, industrial vehicle and railway markets.
Johnson City, Tennessee-based NN manufactures metal, plastic and rubber parts for the automotive and equipment sectors. NN expects the deal to broaden its bearings products offering, plus allow it to expand into adjacent markets.
Dealmakers are expecting manufacturing M&A to surge. Other recent manufacturing deals include OpenGate Capital's deal for Benvic, which makes PVC products, and Industrial Magnetics Inc.'s acquisition of equipment manufacturer Prater-Sterling Inc.