Denver – September 28, 2026 -- Gates Industrial Corporation Ltd. (NYSE: GTES) has completed the acquisition of The Timken Company's belts business, including select manufacturing assets, expanding its North American power transmission footprint.
Gates gains manufacturing capacity and customer ties across three key markets
The deal adds production capacity and customer relationships spanning industrial original equipment manufacturers, the industrial aftermarket, and mobility power sports segments. Gates said the acquisition also strengthens its talent base with the addition of former Timken employees.
Gates assumes control of Mexico manufacturing plant
As part of the transaction, Gates has taken operational control of a belts manufacturing facility in San Jose Iturbide, Mexico, adding to its North American manufacturing and distribution network. The company said it will draw on its existing in-region footprint to manage the integration and minimize disruption for customers.
Executive cites strategic fit with industrial and mobility growth plans
Tom Pitstick, president of Americas at Gates, said the completed acquisition strengthens the company's position in power transmission and supports its strategy to grow in industrial and mobility markets. He said Gates looks forward to combining capabilities with the incoming team to create value for customers, employees and stakeholders.
Financial terms of the transaction were not disclosed.