Pan-European private equity firm Chequers Capital and IGI Private Equity agreed to sell Rollon Group to The Timken Co.
Rollon manufactures linear motion products for the passenger rail, aerospace, packaging and logistics, medical, automation and other industries. Its projected 2018 sales are about $140 million.
Timken, which specializes in engineered bearings and power transmission products, said July 27 that it will use debt to fund the transaction, which it expects to be earnings-accretive in the first year of ownership.
The deal is slated to close in late September, pending regulatory approvals.