Acquisition strengthens product portfolio and capabilities for OEM customers.
CHARLOTTE, N.C., March 31, 2022 – Solve Industrial Motion Group (“Solve”), a portfolio company of Audax Private Equity, has acquired SST Bearing Corporation (“SST Bearings”), a worldwide supplier and manufacturer of bearings and power transmission components.
The acquisition of SST Bearings further enhances Solve’s portfolio of bearings and power transmission offerings, expands its portfolio of product offerings, and strengthens its supply chain to better serve its customers, particularly original equipment manufacturers.
Headquartered in Loveland, Ohio, SST Bearings was founded in 1957, and offers a wide selection of radial bearings, mounted ball bearings and inserts, power transmission products, castings, and custom assemblies. The acquisition also includes conveyor components company, USA Rollers, Inc.
Solve was established in 2020 to serve as a one-stop resource for both metric and American standard power transmission products through its platform of brands including P.T. International, IPTCI Bearings, and LMS Bearings. Solve continues to grow this portfolio with its second acquisition in three months, having acquired Bearings Limited, which manufactures the Tritan brand, in December 2021. Based in Charlotte, North Carolina, Solve currently operates 11 facilities across the United States.
SST Bearings adds to Solve’s presence across multiple verticals, including food and beverage, material handling equipment, agriculture, automotive manufacturing, textiles, mining, and pharmaceuticals.
About Solve Industrial Motion Group
Solve Industrial Motion Group manufactures and sells bearings and power transmission component parts to industrial markets, including food and beverage, agriculture, mining, automotive, car wash, and others. Solve’s portfolio includes P.T. International, IPTCI Bearings, LMS Bearings, Tritan Precision Power Transmission Components, and SST Bearing Corporation. Solve currently has more than 30,000 products available through 11 regional distribution centers across the United States. Solve Industrial Motion Group is owned by Audax Private Equity and is headquartered in Charlotte, North Carolina.
About SST Bearing Corporation
SST Bearings was founded in 1957 in Loveland, Ohio, and offers a wide selection of radial bearings, mounted bearings, inserts, castings, and custom assemblies. SST bearing products are continuously monitored and audited for quality assurance during the manufacturing process.
About Audax Private Equity
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $30 billion in capital across its Private Equity and Private Debt businesses. With more than 300 employees, Audax is a leading capital partner for North American middle market companies. For more information, visit the Audax Private Equity at www.audaxprivateequity.com.