Commercial Solutions Acquires Excel Bearings

Resource from: CBCC Likes:2979

Jun 20,2006

Commercial Solutions Inc. (Canada; TSX: CSA) announced it has acquired Excel Bearings Inc. (Canada). Excel is a bearing and power transmission product distributor with two locations in southern Ontario -- Waterloo and Cambridge. Commercial (on the web here) is an industrial product distributor with 24 locations across Canada, primarily in the western provinces. The company services all types of industry, carrying over 160,000 products. Acquiring Excel gives Commercial an improved presence in eastern Canada, and the potential to service its larger customers as national, rather than regional, accounts. Also, Commercial said it will dramatically expand Excel's product offerings beyond bearings to become a one-stop shop for other power transmission and industrial and safety products. President and CEO of Commercial, Jim Barker, said: "As a leading distributor in western Canada, our growth strategy had always included an expansion into eastern Canada. Our objective is to apply the same strategic focus in eastern Canada that has established Commercial as a dominant distributor in the west. Excel represents the beginning of a new growth era for Commercial in eastern Canada with significant opportunities for organic growth and as a strategic consolidator."

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