Solve Industrial Motion Group, a Charlotte, North Carolina-based portfolio company of Audax Private Equity, has acquired Bearings Limited, a leading manufacturer of bearings and power transmission components under the Tritan brand.
Headquartered in Hauppauge, New York, Bearings Limited has an extensive offering of more than 25,000 Tritan products and services customers from six regional locations, including Los Angeles; Chicago; Houston; Atlanta; Columbus, Ohio; and Hauppauge, Solve said.
“We are excited to grow our platform of Solve brands,” Solve CEO Lisa Mitchell said. “Bearings Limited and the Tritan line are a natural fit in terms of manufacturing and commercial operations that also share our focus on providing superior customer service.”
Mark Magray, senior vice president at Bearings Limited, said, “We are proud of the company that our family has built over the years. Today is a turning point for us and we are excited to begin our next chapter as a member of the Solve family. We believe the partnership will be a win-win opportunity for our dedicated employees, customers, dealers, and distributors.”
Audax acquired Solve in July.