Timken Acquires Wazee Companies
CANTON, Ohio -- The Timken Co. has acquired the assets of Wazee Companies LLC, a provider of motor, generator, wind and industrial crane services to diverse end markets.
Wazee, based in Denver, had trailing 12-month sales through December of approximately $30 million. The acquisition brings Timken additional diversified services including motor rewind, generator rebuild, electric controls, industrial bridge cranes and uptower wind maintenance.
Wazee operates out of four sites: two in greater Denver, another in Pasco, Wash., and the fourth in Casper, Wyo. The company has more than 100 employees.
"We continue to focus our strategy on further diversifying the Timken services portfolio," said Carl Rapp, vice president of industrial services for Timken. “Wazee complements our industrial repair capabilities at existing customers and takes us into critical motor and generator services. Wazee has a strong reputation in the region it serves and is led by an experienced management team. They bring great technical skills and provide an excellent footprint for us to expand our bearing and gearbox repair services.”
The Timken Co. engineers, manufactures and markets mechanical components and high-performance steel. The company reported 2011 sales of $5.2 billion and employs 21,000 in 30 countries.
Published by The Business Journal, Youngstown, Ohio.