Industry News

Industrial mergers and acquisitions: Timken, Prometheus, Metalworks, and more

Jan. 17, 2024

In this business roundup, learn how organizations are combining and reorganizing to become more productive and profitable.

Alexis Gajewski

As companies strive to become more optimized and improve profitability, they often use various business strategies to stay competitive, including mergers and acquisitions. Like other industries, many manufacturers and service providers choose to increase business by buying or combining with other companies. Here are a few recent mergers and acquisitions that are poised to change the industry.

Timken purchases sealing solutions company Lagersmit
“The business serves leading propulsion manufacturers, ship owners, pump makers and other industrial customers around the globe that require advanced sealing systems.”
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Metalworks Inc. to purchase Flairwood
The acquisition will increase Metalworks’ manufacturing capabilities, industries served and its customer base.
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Norda Stelo Inc. acquires CWA Engineers Inc.
The acquisition will leverage Norda Stelo’s core strengths in ESG and asset management, and CWA’s legacy of engineering solutions.
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Prometheus Group to purchase MobilOps from Turner Industries
Prometheus Group hopes to integrate MobilOps into its suite of solutions.
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US LBM acquires Dallas-Fort Worth operations of ZyTech Building Systems
With this acquisition, US LBM now operates 10 locations in the Dallas-Fort Worth metroplex.
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About the Author

Alexis Gajewski | Senior Content Strategist

Alexis Gajewski has over 15 years of experience in the maintenance, reliability, operations, and manufacturing space. She joined Plant Services in 2008 and works to bring readers the news, insight, and information they need to make the right decisions for their plants. Alexis also authors “The Lighter Side of Manufacturing,” a blog that highlights the fun and innovative advances in the industrial sector.