Timken Co., the engineered bearing and power transmission product maker in North Canton, Ohio, has acquired Intelligent Machine Solutions for undisclosed terms.
Norton Shores, Michigan-based Intelligent Machine Solutions makes floor-mounted, overhead, rotary and seventh-axis robotic transfer units and gantry systems used by manufacturers to automate production processes, Timken said in a press release.
The acquisition adds large and heavy-duty applications to Timken’s Rollon linear motion product capabilities and expands Rollon's operational footprint in the United States, a strategic objective for the business, Timken said.
Intelligent Machine is expected to increase Rollon's leadership in robotics and automation in new and growing end-markets such as packaging, marine, aerospace and automotive.
"The acquisition of (Intelligent Machine Solutions) builds upon our established engineering expertise in power transmission and will enable us to compete more effectively and win new business in the heavy-duty linear motion space," said Rüdiger Knevels, CEO of Rollon, in Timken's release.
The deal also "creates new opportunities for us in the growing and global $700 million robotic transfer unit industry," Knevels said.
Timken got into the linear motion product business in 2018 with the acquisition of Europe-based Rollon, a leader in engineered and specialized linear motion products including linear guides, telescopic rails, and linear actuators and systems used in industrial and commercial applications, the company said.
Intelligent Machine was founded in 2008 and has about 20 employees. The Michigan company had revenues of about $6 million in the 12 months ended June 30, 2021.
Timken shares (NYSE: TKR) fell a quarter of a percentage point to $73.23 on Friday.
