The Timken Company, an American multinational that designs and manufactures bearings and products for industrial motion, has achieved a binding agreement with ICG for the 'acquisition di Nadella Group, a company operating in the industrial automation sector.
The transaction, subject to closing conditions and antitrust approval, is expected end in first quarter of 2023.
Houlihan Lokey (financial services firm and investment bank) acted as financial advisor to Nadella Group and the selling shareholders.
Who are Nadella Group and Timken Company
Nadella, an Italian company based in Milan, is among the market leaders in the design e production of a complete range of linear motion solutions, rod ends, ball screws and other automation products, providing state-of-the-art solutions for mission-critical applications to a large, global and diverse customer base.
In 2022 the Group recorded a turnover of over 100 million euros. The company matters 450 employees and manages plants production in Europe and Chinaas well as a global distribution network.
Timken, an American company based in North Canton, designs e produces a portfolio of engineered bearings and products for the industrial movement. Count more than 18.000 Guests globally and operates in 43 countries.
In 2021 he recorded a 4,1 billions of dollars turnover.
"Nadella represents a real story of successo and the perfect example of a historic European company with a fort industrial know-how, which has been able to grow thanks to constant innovation and international expansion. We have achieved outstanding results thanks to a mix of internal and external development strategies and a renewed management team and organisation. We believe that Timken will be an ideal partner to support Nadella in pursuing his future development and to realize its further potential and we are grateful to ICG for having accompanied us over the years,” he said Liviana Forza, CEO of Nadella.
It is interesting to see how international giants invest and choose industrial automation systems of Italian companies. In such a sought-after market it is essential to invest in innovation and quality of materials, and it is effectively here that we Italians distinguish ourselves from competitors, who are often cheaper, but qualitatively inferior.