Industrial Growth Partners has sold Des-Case Corporation to The Timken Company

Des-Case Corporation

Headquartered in Nashville, Tennessee, Des-Case Corporation is a manufacturer of specialty filtration products for industrial lubricants. Founded in 1983, the company serves customers across a variety of industrial end markets. Des-Case’s products are sold primarily through distributors with additional original equipment manufacturer and direct-to-end-user sales. The company’s comprehensive product offering includes breathers, filter elements, condition monitoring, lubrication storage and filter systems that are used throughout the entire lubricant lifecycle. These solutions are critical for enhancing reliability, reducing downtime and extending the useful life of customers’ systems. Des-Case employs approximately 120 people and operates manufacturing facilities in Tennessee and the Netherlands and stocking centers with full sales teams in China and India. For more information, please visit www.descase.com.

The Deal

Under Industrial Growth Partners (IGP)’s ownership, Des-Case completed three successful add-on acquisitions, expanded its recurring consumables product offerings, made strategic management hires, bolstered its global operating footprint and realigned its sales force to target direct customer relationships. Following the completion of its strategic objectives, IGP was seeking liquidity on its investment in the company. IGP turned to Lincoln International to execute a competitive and successful process given the firm’s expertise in the filtration industry, familiarity with the company and strong relationships with top acquirers in the space.

Our Perspective

Bobby Reifman, Managing Director in Lincoln’s Industrials Group, commented, “The industrial filtration market continues to see strong investor interest from both strategic and private equity acquirers. Timken was a logical fit given its extensive experience in the industrial filtration space and Des-Case’s logical product adjacencies to Timken’s lubrication systems. We are very pleased with the outcome and believe there is significant future runway for the combination of Des-Case and Timken.”

Industrial Growth Partners

IGP invests in market-leading, niche manufacturers and industrial services businesses headquartered in the United States or Canada that have a history of profitability. IGP looks to partner with management teams to develop growth strategies such as launching new products, entering new markets and offering additional services. IGP targets companies with revenues up to $250 million. IGP is based in San Francisco. For more information, please visit www.igpequity.com.

The Timken Company

Timken (NYSE:TKR) designs a growing portfolio of engineered bearings and industrial motion products. With more than a century of knowledge and innovation, Timken continuously improves the reliability and efficiency of global machinery and equipment to move the world forward. Timken posted $4.5 billion in sales in 2022 and employs more than 19,000 people globally, operating from 46 countries. Timken has been recognized among America’s Most Responsible Companies by Newsweek, the World’s Most Ethical Companies® by Ethisphere, America’s Most Innovative Companies by Fortune and America’s Best Large Employers, Best Employers for New Graduates and Best Employers for Women by Forbes. For more information, please visit www.timken.com.

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