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A North Carolina manufacturer of power transmission parts and bearings has announced its procurement of an Ohio counterpart.
Solve Industrial Motion Group said the addition of STT Bearing Corp. would bolster its product portfolio and strengthen its supply chain, particularly for its original equipment manufacturer customers. The deal would also expand its reach in numerous markets, officials said, including auto production, material handling, textiles, mining, agriculture, food and beverage manufacturing, and pharmaceutical production.
SST, based in suburban Cincinnati, produces radial bearings, mounted ball bearings and inserts, power transmission products, and custom assemblies. The company also owns conveyor components maker USA Rollers Inc., which was included in the transaction.
Financial terms were not disclosed.
The acquisition is Solve’s second in recent months following its December purchase of Bearings Limited and its Tritan brand. The Charlotte company, formed in 2020 and owned by Audax Private Equity, also includes the P.T. International, IPTCI Bearings, and LMS Bearings brands.
Solve runs 11 facilities in the U.S. and its product offerings exceed 30,000.
Image Credit: heromen30 / Shutterstock.com
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