Motion to buy Hawaiian distributor
Motion Industries Inc. has signed a definitive purchase agreement to acquire the net operating assets of Maguire Bearing Co. Ltd., an industrial distributor based in Hawaii. The transaction is expected to close at the end of February.
Maguire Bearing has served the Hawaii and surrounding Pacific Rim market since 1955, when it was founded by William H. Maguire. His son, John "Jackie" Maguire, is the current owner and will lead the transition. Headquartered in Honolulu with three additional branches in Kapolei, Kahului and Hilo, the company has approximately 30 employees in the state of Hawaii.
With the aim of helping customers extend their machinery and automobile life, Maguire Bearing offers a wide selection of brand-name repair products including bearings, couplings, v-belts, electric motors, hydraulic components, safety supplies, lubricants and oil seals.
"Motion has been a reliable supplier to Maguire for many years, making it an ideal fit for our employees and customers," said Maguire. "We're excited about the growth potential this partnership will create, providing customers an even broader range of solutions to ensure their machinery and vehicles run smoothly and efficiently."
Motion President James Howe added, "Along with its high-quality inventory, Maguire Bearing is highly regarded for its knowledgeable and approachable staff, who are committed to delivering exceptional customer service. "This dedication aligns perfectly witlh Motion's values and is one of the many strengths our companies share. We look forward to welcoming Maguire's talented team and working together to grow our business in this key region."
INDUSTRIAL SUPPLY MAGAZINE
The November/December issue of Industrial Supply magazine features an in-depth cover story about Kimball Midwest. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and Mike Marks, as well as interviews with numerous product and distribution industry experts.
