Rochelle Park, NJ – DAK, a leading investment bank specializing in middle-market mergers and acquisitions worldwide, announces the sale of its client Bearings Limited headquartered in Hauppauge, NY, to Solve Industrial Motion Group, of Charlotte, N.C., a platform company of Audax Private Equity.
DAK 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” stated Jonathan Roth, Director, DAK.
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. There is a natural fit of culture, operations and a strong focus on providing superior customer service” stated Jeff Feldman, Senior VP, Bearings Limited.
About DAK
www.dakgroup.com
DAK is a leading investment bank serving middle market privately held businesses in the areas of mergers and acquisitions, business sale, financial restructuring, bankruptcy, capital advisory, valuations, and fairness opinions. Since 1984, DAK has executed hundreds of transactions across a wide range of industries. The DAK Value Accelerator is the proprietary process that allows clients to maximize the value of their business. DAK is headquartered in Rochelle Park, NJ.
About Bearings Limited
www.bearingslimited.com
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, we have evolved from a small business selling government surplus to one of the industry’s leading wholesale distributors and manufacturers of quality bearings and power transmission products. Today, our 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.
About Audax Group
www.audaxgroup.com
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $26 billion in capital across its Private Equity and Private Debt businesses. With more than 250 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies.
About Solve Industrial Motion Group
solveindustrial.com
Solve Industrial Motion Group is located in Charlotte, NC, manufactures high-quality bearings and power transmission components. Trusted Solve brands include P.T. International, IPTCI Bearings, and LMS Bearings. Solve serves customers from five regional stocking locations with an inventory of 25,000 quality, lab-inspected components.
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