The Timken Company has bought the assets of Wazee Companies, a regional leader providing motor, generator, wind and industrial crane services to diverse markets.
Timken Co. has expanded its industrial service business with the purchase of Wazee Companies, a Denver-based business that provides motor, generator, wind and industrial crane services.
Terms of the deal weren’t disclosed. It includes assets from Wazee’s purchase of H&N Electric, in 2011.
Timken said Wazee posted about $30 million in revenue during 2012.
Wazee gives Timken’s industrial services business a broader footprint, the company said. Wazee’s customers include businesses in the oil and gas, wind, agriculture, material handling and construction businesses.
“We continue to focus our strategy on further diversifying the Timken services portfolio,” said Carl Rapp, Timken vice president of industrial services. “Wazee complements our industrial repair capabilities at existing customers and takes us into critical motor and generator services.”
The addition helps Timken expand its presence in the northwestern United States. Wazee has two Denver locations, along with operations in Pasco, Wash., and Casper, Wyo.
Timken believes Wazee will help the company expand its bearing and gearbox repair services. “Wazee has a strong reputation in the region it serves and is led by an experienced management team,” Rapp said.
Wazee formed in 1921 repairing electric motors and generators. It has been family owned.
In the 1970s the company started a division to build overhead cranes used in factories. In 2007 the company created a wind division to service wind turbines.