Bearings Limited Acquired by Solve Industrial Motion
The DAK Group, an investment bank specializing in middle-market mergers and acquisitions worldwide, announced Feb. 28 the sale of its client Bearings Limited (Hauppauge, NY), to Solve Industrial Motion Group, of Charlotte, N.C., a platform company of Audax Private Equity.
Since 1947, Bearings Limited has been dedicated to providing bearing and power transmission distributors with high quality products, competitive pricing and a level of service unmatched in the industry. Over the past 70 years, the company has evolved from a small business selling government surplus to one of the industry's leading wholesale distributors and manufacturers of quality cylindrical roller bearings, ball bearing and power transmission products. Today, Bearings Limited's extensive inventory consists of over 30,000 different bearing, chain, sprocket and bushing sizes and configurations. Products are conveniently stocked in six strategic locations throughout the US, satisfying the just-in-time needs of distributors throughout North America.
The DAK Group served as the exclusive investment banker and financial advisor to Bearings Limited initiating and managing the process.
"The owners and management of Bearings Limited have monetized on an exceptional company founded and run by family since 1947. By combining forces with Solve Industrial Motion this acquisition propels Solve to enter into the next growth phase for their nationally recognized manufacturing and wholesale distribution business for bearings and power transmission components,” said Jonathan Roth, Director, The DAK Group.
This transaction capitalizes on Bearings Limited leadership position as a value-added distributor of high-quality products servicing customers from six locations throughout the United States. A 70+ year legacy, and multi-generational family business, Bearings is known for its extensive inventory and superior customer service.
“We are excited to be joining the Solve family. This partnership will be a win-win for our dedicated employees, and distributor customers.
The DAK Group serves mid-market privately-held businesses in the areas of mergers and acquisitions, business sale, financial restructuring, bankruptcy, capital advisory, valuations and fairness opinions. Since 1984, The DAK Group has executed hundreds of transactions across a wide range of industries. The DAK Value Accelerator is the propriety process that allows clients to maximize the value of their business. The DAK Group is headquartered in Rochelle Park, NJ.
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