Industrial parts distributor announces two major acquisitions

Sponsored by


Dec. 4, 2013 -- Motion Industries, a distributor of industrial maintenance, repair and operation (MRO) replacement parts, announced its acquisition of Paragon Service & Supply, Inc., as well as a definitive agreement to also acquire Commercial Solutions, Inc (CSI).

Headquartered in Lima, Ohio, Paragon is an industrial distributor serving customers throughout the region with custom designed tooling and MRO supplies. Paragon is independently owned and operated, having been in business since 1991. Motion expects the acquired business to generate annual revenues of approximately $15 million.

Likewise, CSI (TSX: CSA), headquartered in Edmonton, Alberta, is an independent national distributor of industrial MRO supplies, including bearings and power transmission products, complete solutions for drilling rigs, as well as industrial and safety supplies. Its customers represent a broad cross-section of industries and are served from 22 locations across Canada and one in the U.S.

Motion plans to acquire all of the issued and outstanding common shares of CSI and expects the acquired business to generate more than $100 million in annual revenues. Consummation of the merger transaction is expected in the first quarter of 2014 and is contingent upon satisfaction of customary closing conditions, shareholder approval and receipt of applicable regulatory and court approvals.

About Motion Industries

Motion Industries is a distributor of bearings, mechanical power transmission, electrical and industrial automation, hydraulic and industrial hose, hydraulic and pneumatic components, industrial products, safety products, and material handling. Motion Industries has over 550 operations including 14 distribution centers throughout North America. For more information, visit www.motionindustries.com.

###

Sponsored by

TODAY'S HEADLINES

Western New York facing disastrous flooding as record snowfall melts

According to new reports, major flooding has become a growing concern in Western regions of New York State, particularly the city of Buffalo, as high winds are raising temperatures in the area, where 88 inches, or over 7 feet, of snow fell last week.

U.S. Water earns CA Game Changer Company of the Year Award for water conservation efforts

U.S. Water has received the California Game Changer Company of the Year Award for its ongoing efforts in helping companies and organizations across the state of California reduce their water use through a variety of integrated solutions.

Miami-Dade selects program manager for 11-year Ocean Outfall Legislation Program

The Miami-Dade County Water and Sewer Department recently awarded a program management contract to CH2M HILL for its $3.3-billion Ocean Outfall Legislation (OOL) Program.

Progressing cavity pumps help improve sewage handling operation on Caspian Sea drilling rig

Wärtsilä Water Systems Ltd of Poole has officially selected NOV Mono to provide its TR Munchers and three Compact C range pumps for a demanding sewage handling operation on a deep-water semi-submersible drilling rig located in the Caspian Sea. 

FOLLOW US ON SOCIAL MEDIA