Industrial equipment distributor completes acquisition of Canada supplier
Effective Friday, Jan. 31, all of the issued and outstanding common shares of Commercial Solutions, Inc. has been acquired by Motion Canada.
BURNABY, BC, Feb. 10, 2014 -- Effective Friday, Jan. 31, all of the issued and outstanding common shares of Commercial Solutions, Inc. (CSI) has been acquired by Motion Canada -- a division of Birmingham, Ala.-based Motion Industries, a distributor of industrial maintenance, repair and operation (MRO) replacement parts.
Headquartered in Edmonton, Alberta, CSI (TSX: CSA) is an independent national distributor of industrial supplies, including bearings and power transmission products, complete solutions for drilling rigs and 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 Canada expects the acquired business to generate approximately $100 million in annual revenues.
The acquisition agreement was previously announced on December 2, 2013. Bill Stevens, chairman and chief executive officer of Motion Industries, stated, "We are pleased to have completed the acquisition of CSI. We welcome the new team and look forward to the many future contributions they will make to our business growth across Canada."
See also: "Industrial parts distributor announces two major acquisitions".
About Motion Industries
Motion Industries is an industrial parts 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. The company has over 560 operations including 15 distribution centers throughout North America and serves more than 150,000 customers from the food and beverage, pulp and paper, iron and steel, chemical, mining and aggregate, petrochemical, automotive, wood and lumber, and pharmaceutical industries. For more information, visit www.motionindustries.com.