Audax acquires Solve Industrial Motion
Solve Industrial Motion Group has been acquired by Audax Private Equity, an investment firm that specializes in helping middle market companies grow in value and size.
“This new milestone affirms our strong go-to-market strategy and brand evolution,” said Lisa Mitchell, chief executive officer of Solve. “With Audax’ support, knowledge, and expertise, we hope to drive further global expansion into the broader power transmission and electric motion markets. We are excited to begin this next chapter of growth.”
In 2020, the Solve brand was established and brought P.T. International in North Carolina, IPTCI Bearings in Minnesota, and LMS Bearings in Colorado together under one umbrella. As an integrated brand, they provide added value and expanded product offerings to manufacturing distributors, OEMs, and end users.
As a supplier of bearings and power transmission components, Solve is a one-stop resource for both metric and American standard products with an inventory of more than 25,000 SKUs of quality, lab-inspected components. The primary sectors Solve serves include food and beverage, agriculture, mining, steel, automotive, textiles, wood products, lawn and garden, and pharmaceuticals.
“Solve is well-positioned to capture additional market share with OEMs and distributors globally through organic growth and acquisitions,” said Joe Rogers, managing director at Audax. “We are thrilled to be partnering with Lisa Mitchell and the broader Solve team to help accelerate growth and scale the business.”
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
