Timken purchase Interlube Systems
US-based Timken acquire British automated lubrication equipment manufacturer
PLYMOUTH-based Interlube Systems Ltd have been acquired by Timken for an undisclosed sum. As part of a key growth strategy, Timken have been steadily adding to their product portfolio and see Interlube as highly compatible to core product lines and recent acquisitions.
The purchase also includes Cheltenham-based MSP Distributors (acquired by Interlube in 2007). Interlube currently employ 90 people and recorded a £8.7 million turnover in 2012.
The company manufactures and supplies automated lubrication delivery systems and related components for use in the mining, construction and heavy equipment industries. Interlube also have an operation in Dayton, in the US state of Ohio, and a joint venture in Zhuhai, China.
‘We are delighted to be joining The Timken Group,’ commented Mike Cusack, managing director of Interlube. ‘Their global reach will allow us to continue expanding our markets and should provide enhanced investment in the Plymouth facility.’
Michael J. Connors, vice president of distribution for Timken, added: ‘We’re pleased to have Interlube join the Timken team. Their management team brings a wealth of experience and established customer relationships, and their automated lubrication delivery systems certainly complement the Timken portfolio of power transmission products.
‘Their expertise and quality product line, coupled with our global reach and market access, will allow us to increase market share for Interlube products, as well as expose new market space for existing Timken applications.’
