The Timken Company (NYSE:TKR) entered into an agreement to acquire Innovative Mechanical Solutions Ltd. on October 12, 2023. Timken will fund the transaction with a combination of cash on hand and its existing revolving credit facility. The deal is subject to customary closing conditions and is expected to close in the fourth quarter.

The Timken Company (NYSE:TKR) completed the acquisition of Innovative Mechanical Solutions Ltd. on November 1, 2023.