Industrial solutions provider Solve Industrial Motion Group, based in Charlotte, NC, announced the acquisition of Power Rite Products, a 40-year-old company specializing in supplying chain, sprockets, sheaves, bushings, bearings and castings. Power Rite is based in New Brunswick, NJ, and has a second location in Bonita Springs, FL, along with multiple office locations in China.

Solve was formed in 2020 to unite the PTI, IPTCI and LMS brands. Since its founding, Power Rite represents the fifth brand Solve has since acquired to expand its offerings in bearings and power transmission.

“At Solve we’re striving to be the trusted partner for engineered bearings and power transmission solutions” Solve CEO Ernie Lauber said in an Oct. 14 news release. “Power Rite’s expertise in chain and strong customer connections will enable us to expand our product offerings and better serve key customers and industries.”

“I am thrilled for our company to join the Solve family,” said Robert Capanelli, President of Power Rite Products. “Solve has a strong history of growth and investment, and we are excited about being a part of their vision.”