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

Did You Like this Article? Get All the Water Industry News Delivered to Your Inbox or Mailbox

Subscribe to one of our magazines or email newsletters today at no cost and receive the latest information.

TODAY'S HEADLINES

ND judge, states block 'Waters of the U.S.' rule from taking effect

U.S. District Judge Ralph Erickson of North Dakota -- in collaboration with a dozen states -- blocked the Clean Water Rule, or "Waters of the U.S." rule, from taking effect on Friday, Aug. 28.

City of Jerome, Idaho, settles wastewater permit violations with EPA

In a recent settlement between the City of Jerome, Idaho, and the Environmental Protection Agency, the city has agreed to upgrade its wastewater treatment plant to ensure that the facility has the capacity to handle future discharges.

New study to shed light on persistence of Ebola virus in wastewater

In light of the outbreak of the Ebola virus in West Africa, new research by a group of microbial risk-assessment and virology researchers suggests that the procedures for disposal of Ebola-contaminated liquid waste might underestimate its ability to survive in wastewater.

NJ gov approves $1.9B funding for critical water, wastewater infrastructure projects

In an effort to protect the environment and modernize critical New Jersey infrastructure, Governor Chris Christie recently signed legislation authorizing up to $1.94 billion in state financing for projects to improve drinking water and wastewater infrastructure across the state.

FOLLOW US ON SOCIAL MEDIA

  

 


© 2015. PennWell Corporation. All Rights Reserved. PRIVACY POLICY | TERMS AND CONDITIONS