# Timken to acquire Cone Drive for over $100M in sales

The Timken Company has reached an agreement to acquire Cone Drive, a leader in precision drives for solar, automation, and other markets. Cone Drive's 2018 sales are expected to be slightly above $100 million. The transaction is expected to close near the end of August 2018.

- Type: Acquisition
- Announced: 2018-07-24
- Where: Traverse City, Michigan, United States
- Jobs: 500
- Status: announced
- Products: precision drives, worm gears, harmonic solutions, slew drives
- Sectors: [Automation and Robotics](https://endata.com/sectors/automation-robotics.md), [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Timken](https://endata.com/companies/1700.md) (acquirer)
- [Chequers Capital](https://endata.com/companies/6237.md) (investor)
- [Cone Drive](https://endata.com/companies/18875.md) (target)
- [Rollon Group](https://endata.com/companies/18888.md) (target)
- [IGI Private Equity](https://endata.com/companies/18889.md) (investor)

## Sources

- [news.timken.com](https://news.timken.com/2018-07-24-Timken-to-Acquire-Cone-Drive-a-Leader-in-Precision-Drives-Serving-Attractive-Markets), 2018-07-24: "The acquisition of Cone Drive will deepen Timken's position in attractive, high-growth end markets such as solar and increase our power transmission presence in China."
- [news.timken.com](https://news.timken.com/2018-07-27-Timken-to-Expand-Portfolio-With-Acquisition-of-Rollon-a-Leader-in-Linear-Motion), 2018-07-27: "The acquisition of Rollon will further expand the Timken portfolio of leading industrial brands"
- [powertransmission.com](https://www.powertransmission.com/timken-reaches-agreement-to-acquire-cone-drive), 2018-08-02: "The Timken Company recently announced that it has reached an agreement to acquire Cone Drive, a leader in precision drives used in diverse markets including solar, automation, aerial platforms, and food and beverage."
- [news.timken.com](https://news.timken.com/2018-09-04-Timken-Completes-Acquisition-of-Cone-Drive), 2018-09-04: "The Timken Company today announced that on Sept. 1, 2018 it completed the previously announced acquisition of Cone Drive."
- [powertransmission.com](https://www.powertransmission.com/timken-completes-cone-drive-acquisition), 2018-09-07: "The Timken Company has announced that on Sept. 1, 2018 it completed the previously announced acquisition of Cone Drive."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.