Timken acquires industrial motions solution provider Nadella Group .

Timken has reached an agreement to acquire Nadella Group, a European manufacturer of linear guides, telescopic rails, actuators and systems and other specialized industrial motion solutions, from ICG plc. Nadella posted revenue of approximately EUR100M in 2022. The business has 450 employees and operates manufacturing facilities in Europe and China. The transaction is subject to regulatory approvals. The transaction is expected to close in Q1 and will be funded with cash on hand and borrowings from committed credit facilities. Timken anticipates the acquisition will be accretive to adjusted earnings in 2023.