It’s the eighth deal of the year for the fluid power, hosing and industrial products distributor formerly known as SBP Holdings.
Latest In Power Transmission/Motion Control/Fluid Power
It’s one of two Timken Belts factories, and follows the closing of South Carolina bearings plant this year.
Singer Industrial joined forces with Hotsy Equipment of Colorado and Wyoming headquartered in Greeley, Colorado.
Power transmission distributor Purvis Industries acquired Torque Drives, an industrial distributor of power transmission components and more.
MCE acquired Georgia-based motor control and drive distributor Applied Industrial Controls and systems integrator Engineered Systems Group.
The bearings maker said it's eyeing the sale of non-core Aerospace product lines, which include seals, rings and PEDs.
It's the second power transmission product category added to the platform this year, which has over 25 categories total.
It's the distributor's second deal in as many months, further boosting its Industrial Parts and Engineered Repair Services business units.
The company will soon open its third U.S. location in Southaven, Mississippi, part of the greater Memphis region.
The company reported that fiscal 4Q net sales were $1.2 Billion, up 9.1% YoY and up 8.6% on an organic basis.
Jim and Peter Fitzpatrick, who have owned the company for over 30 years, will retain material ownership stakes.
This vehicle will allow for Frontenac’s continued investment in MCE and is expected to fuel the company’s next phase of growth.
Lon Jennings will succeed David Parks as Hydradyne President. Parks will retire after 44 years with the company.
The industrial parts distributor's profit margin grew 190 bps year-over-year despite sales growth that was less than half that of 1Q.
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Womack Machine Supply and Morrell Group will combine to create one of the largest automation and fluid power distributors in the U.S.
MCE has now made 10 acquisitions since January 2021.
The partnership signifies a 'shared commitment to continuous improvement' and mutual growth, IDCO says.
Crush Bearings and Drives is a distributor of mechanical power transmission and motion control products.
