Canton, Ohio-based The Timken Company, an international manufacturer of engineered bearings, alloys, specialty steels and components, acquired The Torrington Company for US$840 million. Torrington, based in Torrington, Connecticut, is the engineered solutions business of Ingersoll-Rand Company Limited. The deal was announced on October 16, 2002, and closed on February 18, 2003.
Timken was represented in Canada, by McMillan Binch LLP with a team that included John Paterson and Jeff Francis (corporate), Neil Campbell (competition), Ted Maduri (corporate and competition), Hal Rolph and Darryl Hiscocks (labour), Susan Nickerson (pensions and benefits), John Fox (real estate), David Wentzell, Jamie Wilks and Michael Friedman (tax) and Michael Peterson (environmental). Jones Day represented Timken in the U.S. and internationally, with a team led by Chuck Hardin and Steve Washington, along with McDermott, Will & Emery with a team led by Joseph Winterscheid (antitrust).
Ingersoll-Rand was represented by Baker & McKenzie, with a team co-ordinated by Tom Egan in Washington, D.C., and Josh Izenberg in Toronto. The Canadian transaction was led by Roy Kusano, Janice McAuley and Alex Ostrop, assisted by Deb Alexander, Brian Segal, Cheryl Elliott, Susan Seller, Leneo Sdao, Isabelle Girard, Chris Wright and Jeff Hopkins, and by Peter Franklyn and Shuli Rodal (competition) of Osler, Hoskin & Harcourt LLP. Simpson Thacher & Bartlett represented Ingersoll-Rand internationally, with a team led by Maripat Alpuche and including Jackie Grise (U.S. antitrust) and Scott Flick (competition) of Howrey Simon Arnold & White, LLP in Washington, D.C.