Motion Industries, No. 4 on MDM's list of the Top 40 Industrial Distributors, made a move last month to expand its hose and belting capabilities by agreeing to acquire Apache Inc., Cedar Rapids, IA.
Apache, a distributor of industrial hose and belting, specializes in fabrication of belts, hoses, cut and molded products. It has seven U.S. locations and more than 2,500 customers in North America and Europe. Motion expects Apache to generate annual sales of $100 million, adding to Motion's $4.6 billion in revenue (2016).
"The acquisition of Apache continues to build upon and complement our growth strategy in the area of hose, belting and material handling," said Tim Breen, President and CEO of Motion Industries. "Apache will be operated as part of Motion's belting group which includes several other acquisitions made over the past few years."
Motion Industries, a wholly owned subsidiary of Genuine Parts Co. (NYSE: GPC), Atlanta, GA, is also No. 1 on MDM's list of the Top 10 Power Transmission & Bearings Distributors.
The company's purchase highlighted a busy month for distribution M&A, which also saw Market Leaders Lawson Products and Winsupply acquire growth.
Here are other key deals that occurred in October 2017:
Lawson Products Acquires Bolt Supply House
Winsupply Acquires Certified Plumbing and Electrical Supply Co
Ace Hardware Acquires The Grommet
Kodiak Building Partners Acquires Drywall Materials LLC
Reliance Steel & Aluminum Acquires Ferguson Perforating
Purvis Industries Acquires A&W Bearings & Supply Co.
Sysco to Acquire Hawaii-based Distributor
Akron Hardware Consultants Acquired by Private Equity Firm
AHB Tooling & Machine Inc Acquires Division of Westbrook Engineering
Triad Technologies Acquires Rilco Industrial Controls Inc.
Louisiana-Pacific Finalizes Acquisition of International Barrier Technology
