6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060
Toll free (888) 742-5060
Commercial Solutions Inc., Edmonton, Alberta, had acquired Excel Bearings Inc., a $3.5 million revenue Ontario-based distribution company with 10 employees and locations in Waterloo and Cambridge, Ontario.
Commercial reported total revenue for the 2005 fiscal year of $97.8 million.
Excel is a bearing and power transmission specialist with a strong regional presence in the Southern Ontario market and provides Commercial with an increased Eastern presence. The Excel acquisition will give Commercial an Eastern Canadian bearing and power transmission infrastructure to build upon, eventually allowing Commercial to convert Western regional contracts into national contracts. In addition, Commercial's varied portfolio of products not currently carried by Excel, such as industrial and safety products, will provide an opportunity to have one-stop shopping presented to Excel's customer base.
"As a leading distributor in Western Canada, our growth strategy had always included an expansion into Eastern Canada," noted Jim Barker, President and CEO of Commercial. "Our objective is to apply the same strategic focus in Eastern Canada that has established Commercial as a dominant distributor in the West. Excel represents the beginning of a new growth era for Commercial in Eastern Canada with significant opportunities for organic growth and as a strategic consolidator."