Addition strengthens Solve’s portfolio and expands its ability to serve customers across North America.
Solve Industrial Motion Group (“Solve”), a 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, N.Y., 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, N.Y.
“We are excited to grow our platform of Solve brands,” said Lisa Mitchell, Chief Executive Officer of Solve. “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.”
“We are proud of the company that our family has built over the years,” said Mark Magray, Senior Vice President at Bearings Limited. “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.”
In 2020, the Solve brand was established, bringing P.T. International (“PTI”) in North Carolina, IPTCI Bearings in Minnesota, and LMS Bearings in Colorado together under one umbrella. Tritan is the fourth brand to join the growing portfolio. Solve is a one-stop resource for both metric and American standard power transmission products, serving multiple verticals, including food and beverage, material handling equipment, agriculture, automotive, textiles, mining, building products, and pharmaceuticals.