Singer Industrial joined forces with Hotsy Equipment of Colorado and Wyoming headquartered in Greeley, Colorado.
Latest In Power Transmission/Motion Control/Fluid Power
Power transmission distributor Purvis Industries acquired Torque Drives, an industrial distributor of power transmission components and more.
MCE acquired Georgia-based motor control and drive distributor Applied Industrial Controls and systems integrator Engineered Systems Group.
The bearings maker said it's eyeing the sale of non-core Aerospace product lines, which include seals, rings and PEDs.
It's the second power transmission product category added to the platform this year, which has over 25 categories total.
It's the distributor's second deal in as many months, further boosting its Industrial Parts and Engineered Repair Services business units.
The company will soon open its third U.S. location in Southaven, Mississippi, part of the greater Memphis region.
The company reported that fiscal 4Q net sales were $1.2 Billion, up 9.1% YoY and up 8.6% on an organic basis.
Jim and Peter Fitzpatrick, who have owned the company for over 30 years, will retain material ownership stakes.
This vehicle will allow for Frontenac’s continued investment in MCE and is expected to fuel the company’s next phase of growth.
Lon Jennings will succeed David Parks as Hydradyne President. Parks will retire after 44 years with the company.
The industrial parts distributor's profit margin grew 190 bps year-over-year despite sales growth that was less than half that of 1Q.
The PTDA Learning Hub offers learning materials on the fundamental characteristics of power transmissions/motion control products.
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Womack Machine Supply and Morrell Group will combine to create one of the largest automation and fluid power distributors in the U.S.
MCE has now made 10 acquisitions since January 2021.
The partnership signifies a 'shared commitment to continuous improvement' and mutual growth, IDCO says.
Crush Bearings and Drives is a distributor of mechanical power transmission and motion control products.
India-based Sak Abrasives is expanding its presence in the U.S. with the acquisition of Jowitt & Rodgers.
This adds to the $75 million Timken committed in late 2020 to strengthen both its wind and solar capabilities.
