While August lacked the big-dollar deals that July delivered, M&A was rampant last month among power transmission and bearing distributors.
Motion Industries – No. 6 on MDM’s 2015 list of the top 40 industrial distributorsand No. 1 on the list of the top 10 power transmission & bearings distributors– agreed to acquire abrasives distributor Lake Erie Abrasive & Tool, Euclid, OH. The purchase will help Birmingham, AL-based Motion Industries, a subsidiary of Genuine Parts Co., Atlanta, GA, broaden its services in the abrasives category.
Applied Industrial Technologies – No. 11 on the industrial list and No. 2 on the power transmission & bearings list – acquired Atlantic Fasteners, a distributor of C-Class consumables in Agawam, MA.
Ohio Transmission Corp., Columbus, OH, acquired Buckeye Pumps Inc., Galion, OH, a provider of engineered process system and pump solutions for customers in industrial and municipal markets.
Buckeye Pumps will operate as a division of OTP Industrial Solutions, a division of Ohio Transmission Corp. and No. 38 among industrial companies and No. 7 among power transmission & bearings distributors.
Here are other key deals that occurred in August 2015: