AST Bearings, a distributor of bearings and related products and a portfolio company of Tonka Bay Equity Partners, has been sold to Motion Industries. Tonka Bay acquired AST Bearings from Axsys Technologies in December 2007.
AST Bearings is a supplier to original equipment manufacturers and wholesalers of high-precision, miniature ball bearings, bearing related products, and professional services including engineering and design. The company is based in Montville, NJ (www.astbearings.com).
Motion Industries, a subsidiary of Genuine Parts Company (NYSE: GPC), 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. Motion Industries had revenues in 2012 of $4.5 billion. The company is based in Birmingham, AL (www.motionindustries.com).
Tonka Bay Equity Partners invest in highly-engineered manufacturing, value-added distribution and business services companies with EBITDA greater than $2 million. The firm is based in Minnetonka, MN (www.tonkabayequity.com).
BB&T Capital Markets (www.bbtcapitalmarkets.com) served as the exclusive financial advisor to AST Bearings.
© 2013 PEPD • Private Equity’s Leading News Magazine • 11-5-13
