Timab

What Timab does

Timab (legal entity Tibro Maskinreparationer AB) is a Swedish family-owned industrial services company founded in 1949, specializing in the renovation, retrofit, and modernization of large machine tools. Headquartered in Tibro, Sweden, with an 11-50 employee base, the company operates a 2,500 m² workshop equipped with three cranes (up to 4.5 m lifting height), CNC milling/turning/grinding capacity, washing and painting rooms, and capabilities to handle machines exceeding 100 tons. Its core offering is full-turnkey retrofit of aging machine tools, including mechanical overhaul, installation of Siemens 840D SL control systems, replacement of motors/scales/drives, precision scraping (gejdslipning) of machine ways up to 3.5 meters, Turcite bearing replacement, and on-site commissioning. The firm also designs and builds new special-purpose machines (side mills, tool changers, robotic tool-handling cells) and manufactures spare parts using Autodesk Inventor for full 2D/3D documentation.

The company's revenue model is project-based and entirely custom-quoted, with five primary streams: machine renovation/retrofit services, custom machine manufacturing, spare parts production, sale of renovated or surplus machines, and on-site service/maintenance. Sales are conducted via direct field engagement by senior staff (CEO/owner Leif Svensson and Peter Siljehult) targeting enterprise customers in heavy manufacturing, steel, automotive, aerospace, mining/tooling, and specialty packaging (named customers include Volvo Cars, Volvo Powertrain, GKN Aerospace, Sandvik, SSAB, Epiroc, Motala Verkstad, Siemens Industrial Turbomachinery, Uddeholms, Åkers, Nammo, Erasteel, Alleima, Emballator, Valmet, Husqvarna). All projects are one-time, long-cycle engagements requiring site visits and bespoke proposals. Pricing is not publicly disclosed; there are no subscription or recurring revenue components. The company is certified to ISO 9001 (quality) and ISO 14001 (environmental), has been recognized as a DI Gasell by Dagens Industri, and received the 2024 Årets Företagare (Entrepreneur of the Year) award in Tibro. Its competitive moat rests on 50+ years of accumulated craft expertise, capital-intensive heavy-machinery handling infrastructure, proprietary Siemens 840D retrofit know-how, and long-term CAD documentation that creates spare-parts lock-in for customers.

Name

Timab

Legal name

Tibro Maskinreparationer AB

Website

https://timab.se

Company type

Private

Founded year

1949

Operating status

Operating

Headcount range

11–50 employees

Short description

Timab (Tibro Maskinreparationer AB) is a family-owned Swedish industrial services firm, founded 1949, that renovates, retrofits, and modernizes large machine tools (up to 100+ tons) for enterprise customers across Sweden's heavy manufacturing, steel, automotive, and aerospace sectors using Siemens 840D controls and in-house CNC manufacturing capability.

Ownership category

akta.pro rank

Product category

Industrial Machine Tool Renovation & Retrofit Services

NAICS

Metalworking Machinery Manufacturing (3335), Cutting Tool and Machine Tool Accessory Manufacturing (333515)

SIC

Metalworkg Machinery & Equipment (3540), Machine Tools, Metal Cutting Types (3541)

akta.pro primary industry

Mechanical Maintenance & Millwright Services (Rotating/Static Equipment) (IMAIACAB)

akta.pro secondary industry

Metal Forming & Fabrication Machines (Presses, Bending, Shearing, Stamping) (IMAHADAC)

Keywords

• Machine tool retrofit
• CNC modernization
• Industrial machinery renovation
• Custom machine manufacturing
• On-site machine service

Headquarters

HQ city

Tibro

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D

Revenue model

1. Machine Renovation & Retrofit Services: Core revenue stream involving full or partial renovation, modernization, and rebuilding of large machine tools, including mechanical overhaul, control system replacement (Siemens 840D), and commissioning at customer sites. Covers retrofit projects where old machines are upgraded to modern specifications. Revenue is project-based, one-time per engagement.
2. Custom Machine & Special Machine Manufacturing: Design and manufacture of new special-purpose machines, side mills for portal mills, tool changers, and custom fixtures to customer specifications. Full lifecycle from concept, CAD design, manufacturing, to installation and commissioning.
3. Spare Parts & Machine Component Manufacturing: Production of replacement parts and machine components (gears, worm screws, control guides, chucks, couplings, spindles, motors) to high precision tolerances, typically at lower cost than OEM originals. Includes hardened guide rails and custom components per customer drawings.
4. Sale of Renovated Machines & Components: Sale of fully renovated machine tools (e.g., Morando VS13 carousel lathe) and surplus machine components (gearboxes, motors, couplings, brakes) from inventory. Customers include other machine shops and industrial operators seeking used but modernized equipment.
5. On-Site Service, Maintenance & Installation: On-site repair, maintenance, and installation work performed at customer facilities by service technicians. Includes large-scale renovations where the machine is too heavy to transport and must be serviced in-place. Typically billed as part of renovation projects or as separate service engagements.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Timab renovates, retrofits, and modernizes large industrial machine tools, replacing legacy controls (e.g., Siemens 840D SL), mechanical drives, and bearings to extend machine life at a fraction of replacement cost. The company also designs and builds custom special-purpose machines and manufactures precision spare parts (gears, worm screws, couplings, spindles), performing work both in its Tibro workshop and on customer sites.

Product overview

Timab (Tibro Maskinreparationer) is a family-run company founded in 1949 specializing in machine tool renovation, retrofit, and manufacturing. Their core offering consists of Renoveringar (renovations and retrofit services) for large machine tools, including total or partial renovations, control system replacements, and modernization. They also offer Specialité (custom special solutions), Arbetsplatsarbeten (on-site work services), CAD & Konstruktion (design services using Autodesk Inventor), Specialmaskiner (custom machine manufacturing), and operate their own Maskinpark (machine shop) with CNC milling, turning, and grinding capabilities. The company works primarily with Siemens 840D and Bosch control systems, and handles special components like gearboxes, spindle motors, and lamella couplings. Their customers span automotive, aerospace, heavy engineering, and steel industries across Sweden and Nordic countries.

Differentiator

Problem solved

Functional benefit

Products and services

• Renoveringar & Retrofit (Machine Tool Renovation & Retrofit) Complete and partial renovations of large machine tools including mechanical overhaul, electrical refurbishment, and control system upgrades (e.g., Siemens 840D SL) to modernize aging or manually operated machinery for industrial customers.
• Specialité (Custom Special Solutions) Custom adaptations and upgrades of existing machines, including integration of new equipment with existing machinery, realized from customer ideas and specifications.
• Arbetsplatsarbeten (On-Site Renovation & Service) On-site renovation, repair, installation, and maintenance services performed at customer locations across Sweden and parts of the Nordic region, especially for large or immovable machines weighing up to and exceeding 100 tons.
• CAD & Konstruktion (CAD & Design Services) 2D and 3D CAD design and documentation using Autodesk Inventor, covering visualization of rebuilds, new machine designs, and long-term documentation enabling customers to order spare parts.
• Specialmaskiner (Custom Machine Manufacturing) Design and manufacture of new custom special-purpose machines, side mills for portal mills, tool changers, and custom fixtures, covering concept, CAD design, manufacturing, and installation/commissioning.
• Maskinpark (Precision Machining Services) Precision component manufacturing using the company's in-house machine park, including CNC milling (Haas VF4), CNC turning (Colchester-Harrison), surface grinding (Favretto, Elb), bed milling, and other operations to produce replacement parts and components.
• Spare Parts & Machine Components Production of replacement machine components — gears, worm screws, control guides, chucks, couplings, spindles, motors, and hardened guide rails — manufactured to high precision tolerances per customer drawings, typically offered at lower cost than OEM originals.
• Sale of Renovated Machines & Surplus Components Sale of fully renovated/used machine tools (e.g., carousel lathes) and surplus machine components (gearboxes, motors, couplings, brakes) sourced from inventory to industrial buyers.

Quantifiable outcome

• Uddeholms AB doubled production capacity in upgraded portal mill after retrofit (nearly doubled)
• +3 more outcomes

Named customers17 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• Rainy DaysminorImplementation/ SI/ Consulting PartnerRainy Days designed and built Timab's company website (timab.se). They are a web development agency engaged for a one-time website creation project. The relationship is a standard client-vendor engagement for web design services.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Bilfinger: European industrial services provider delivering maintenance, turnaround, and plant modification services across process and heavy industry. Comparable to Timab's on-site service model (Arbetsplatsarbeten) for large industrial machines and process equipment maintenance.
• Haas Automation: Large US-based machine tool builder whose Haas VF4 is itself part of Timab's own machine park. Haas's low-cost new CNC mills represent the strategic alternative to retrofitting older European machine tools.
• Siemens Digital Industries: Supplier of the Siemens 840D SL control systems that Timab installs on retrofitted machine tools, and an indirect competitor offering OEM-direct modernization packages. Closely linked as both vendor and ecosystem reference point in CNC retrofits.
• Makino Milling Machine: Japanese machine tool builder specializing in milling and metal-cutting equipment with service and retrofit operations in Europe. Comparable as an OEM competing for the same large-machine modernization budget at industrial customers.
• FANUC: Global supplier of CNC controls, servos, and industrial robots that compete with Siemens 840D SL systems in machine retrofits. Comparable as both an automation vendor and a competing retrofit ecosystem to the one Timab builds on.
• Voith Industrial Services: Provider of industrial maintenance, repair, and modernization services for heavy machinery and drive systems in Europe. Comparable as a broader industrial MRO/retrofit player that targets overlapping end markets (steel, energy, heavy industry) with similar on-site technical service capabilities.
• ABB Industrial Automation: Supplier of industrial robots (including the ABB robots Timab integrates into custom tool-handling cells) and provider of industrial automation retrofit solutions. Comparable as both a component supplier and an indirect competitor in machine modernization.
• DMG MORI: World's largest machine tool builder offering new equipment and OEM service across milling, turning, and advanced manufacturing. Comparable as the new-machine alternative that competes with Timab's retrofit/renovation value proposition at the same industrial customers.
• Bosch Rexroth: Major supplier of drive and control technology, hydraulics, and factory automation components used in machine tool retrofits. Comparable as a Tier-1 supplier/competitor for the motion-control and hydraulics integration that Timab performs on large retrofit projects.
• Yamazaki Mazak: Global machine tool manufacturer with comprehensive service, retrofit, and automation offerings for CNC machine tools. Comparable because Mazak's factory-direct service competes for similar large-machine modernization budgets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Timab