Motion Industires Agrees to New Acquisition
Motion Industries, Inc. a wholly owned subsidiary of Genuine Parts Company, has entered into a definitive agreement whereby Motion Industries has agreed to acquire Lake Erie Abrasive & Tool (LEA&T), headquartered in Euclid, Ohio.
Motion Industries, Inc. a wholly owned subsidiary of Genuine Parts Company, has entered into a definitive agreement whereby Motion Industries has agreed to acquire Lake Erie Abrasive & Tool (LEA&T), headquartered in Euclid, Ohio.
Consummation of the transaction is expected to take place in early September 2015.
LEA&T specializes in custom-designed abrasive systems as well as distribution of quality abrasive products, tools and related machinery. LEA&T's Euclid location as well as its two locations in Greer, South Carolina, and Howell, Michigan, serve customers in a broad cross-section of industries in those geographic areas and beyond.
With annual sales of $4.8 billion, Motion Industries is a leading 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.
Motion Industries has more than 550 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.
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