JIM McColl’s Clyde Blowers Capital (CBC) is to sell its Cone Drive precision motion control business to the New York-listed Timken Company for an undisclosed sum, writes Karen Peattie.

Since acquiring Michigan-based Cone Drive in 2012, Clyde Blowers Capital has repositioned it from an industrial gearing company operating largely out of North America to a globally-integrated business with operations on three continents serving a range of precision motion control technology markets.

In 2014, the acquisition of H-Fang in Jiangyin, China, represented a key milestone in the geographic expansion of the business and enabled Cone Drive access to the fast-growing China solar and robotics markets.

Dougie Hawkins, partner at CBC, said that the sale of Cone Drive to Timken “represents the next chapter in the rapid development of the business”. He said: “Over the past six years it’s been a pleasure working with Kurt Gamelin and the team at Cone Drive and we’re extremely proud of the progress the business has made under our stewardship.

“We look forward to seeing Cone Drive continue to innovate and develop over the coming years.”

The sale is subject to customary government and regulatory approvals.