Commercial Solutions acquires Excel Bearings in Waterloo, Ont.
Edmonton, AB -- Commercial Solutions Inc. has completed the acquisition of all the issued and outstanding shares of...
Edmonton, AB — Commercial Solutions Inc. has completed the acquisition of all the issued and outstanding shares of Excel Bearings Inc., a $3.5 million revenue Ontario based distribution company with 10 employees and locations in Waterloo and Cambridge, Ont.
Excel is a bearing and power transmission specialist with a strong regional presence within its Southern Ontario market, providing Commercial an increased eastern presence. The Excel acquisition will give the western-based distributor an Eastern Canadian bearing and power transmission infrastructure to build upon, eventually allowing it to convert its western regional contracts into national contracts.
In addition, Commercial’s varied portfolio of products not currently carried by Excel, such as industrial and safety products, will provide an opportunity to have one-stop shopping presented to Excel’s customer base.
“As a leading distributor in western Canada, our growth strategy had always included an expansion into eastern Canada,” noted Jim Barker, president and CEO of Commercial. “Our objective is to apply the same strategic focus in eastern Canada that has established Commercial as a dominant distributor in the west.
“Excel represents the beginning of a new growth era for Commercial in eastern Canada with significant opportunities for organic growth and as a strategic consolidator.”
Commercial, which is based in Edmonton, is an independent industrial distributor with 24 services centres and about 275 employees located across Canada. Commercial offers more than 160,000 items critical to maintenance repair and operations (MRO) and original equipment manufacturer (OEM) customers.
The company represents 450 leading manufacturers and serves over 10,000 customer accounts within a broad cross-section of industries, including oil and gas, forestry, food processing, chemical processing, mining and aggregate, utilities, agriculture and construction. Commercial trades under the symbol ‘CSA’ on the Toronto Stock Exchange. For further information on the company, visit www.commercialsolutions.ca and for detailed financial information visit www.sedar.com.