US Bearings and Drives acquires Bearings & Drives Inc.
Vancouver, WA -- US Bearings and Drives, the Vancouver, Wash.-based division of The BC Bearing Group of Burnaby, B.
Vancouver, WA — US Bearings and Drives, the Vancouver, Wash.-based division of The BC Bearing Group of Burnaby, B.C., has acquired Bearings & Drives Inc., a Fargo, N.D.-based bearing and power transmission supply company. The transaction closed on April 30, 2004.
Scott A. MacPherson, president of US Bearings and Drives, said, “The acquisition of Bearings & Drives fits perfectly into our strategic plan of growing in new markets throughout the Americas by consolidating distribution and establishing our company in new regions of the United States.
“Bearings & Drives’ solid goodwill has been built up over 29 years with its employees, customers, vendors and the communities in which it has served. This will be of immense benefit to US Bearings and Drives going forward.”
Barry Grant, president of Bearings & Drives, Inc., said, “I am delighted with this move. Consolidation in the industry is both necessary and inevitable. As US Bearings and Drives shares our philosophy in business, I am confident that our employees will be treated well and that our customers will continue to be afforded the same high level of quality and service they have come to expect with Bearings & Drives.”
Bearings & Drives Inc., which has been in business for 29 years, operates six branches located in North Dakota and Minnesota.
US Bearings and Drives, established in 1979, has 13 branches in Washington, Oregon, California, Montana, Arizona and Alaska. A division of The BC Bearing Group, it is affiliated with nearly 60 locations in Canada, Mexico, Chile, Peru and the U.S.
The BC Bearing Group, established in 1944, is an industrial distributor of bearings and power transmission components with consolidated sales in excess of US$117 million and services customers in such markets as forestry, mining, food processing, agriculture, petrochemicals, high technology and others.