Gates Industrial Corporation, a global manufacturer of power transmission and fluid power solutions listed on the NYSE under the ticker GTES, has entered into a definitive agreement to acquire the belts business from The Timken Company, including select manufacturing assets. Financial terms were not disclosed. The transaction is expected to close in the third quarter of 2026.
Timken’s belts business is a North American-based manufacturer serving industrial and mobility markets through OEM and aftermarket channels. The acquisition will broaden Gates’ channel and application coverage, including in the industrial OEM and aftermarket channels and the power sports segment of its mobility business unit.
KEY QUOTES:
“Gates is expanding customer access and opportunities in priority markets, such as the industrial OEM and aftermarket channels, as well as the power sports segment of our mobility business unit. The acquisition of the belts business from Timken broadens our channel and application coverage.”
Tom Pitstick, President Americas, Gates Corporation
