Burnaby, BC -- Motion Industries (Canada) Inc. a distributor of industrial maintenance, repair, and operation (MRO) replacement parts, has entered into a definitive agreement to acquire all of the issued and outstanding common shares of Commercial Solutions Inc. (CSI). Consummation of the merger transaction is expected in the first quarter of 2014, and is contingent upon satisfaction of customary closing conditions, shareholder approval and receipt of applicable regulatory and court approvals.
CSI, headquartered in Edmonton, AB, is an independent national distributor of industrial MRO supplies, including bearings and power transmission products, complete solutions for drilling rigs, as well as 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 US. Motion Canada expects the acquired business to generate more than $100 million in annual revenues.
“The addition of CSI positions Motion Canada for continued growth throughout the country," said Bill Stevens, chairman and CEO of Motion Industries. "We are quite pleased to welcome CSI and look forward to the contributions they will make to Motion Canada in the years to come.”
Dermot Strong, president of Motion Canada, added, “CSI has been a good competitor for many years and we are quite happy that they will now become part of our Canadian team.”
With annual sales of $4.5 billion, 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. It has over 550 operations, including 14 distribution centres 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.
Motion Industries is a wholly owned subsidiary of Genuine Parts Company.