Integris Partners recently advised LMS Bearings, Inc., a leading provider of custom bearings and other mechanical power transmission components, on its sale to P.T. International Corporation, a supplier of European and American standard industrial power transmission products, and a portfolio company of Tonka Bay Equity Partners.
Based in Lafayette, CO, LMS is a premier supplier of high-quality power transmission products to original equipment manufacturers in a variety of industrial and commercial sectors. The product range includes various specialized bearings, machined parts, sprockets, chains, gears, motors, belting, and other mechanical power transmission components.
Based in Charlotte, NC, P.T. International Corp. is a major producer of metric and American standard mounted bearings and industrial mechanical power transmission products, for both OEM customers and end users that are served through its large network of distributor partners.
Jeff Weiss, founder of LMS, said "We operate in a very specialized corner of the enormous bearings and PT market. In seeking a new partner to help LMS realize its full potential and capitalize on the success we have had to date, I wanted a buyer who understood our unique value proposition to customers, would provide a platform for our talented staff to prosper, and fully valued the exceptional business we have built. I am excited for LMS to become part of the PTI operation, and grateful for the process Integris Partners ran to hit all of these objectives."
"We are very excited to partner with the team at LMS to continue to build our collective business, diversify our customer base, and expand our product reach," said Darin Davenport, President of PTI. "LMS is a great company that presents a great opportunity to grow our platform and build momentum for 2017 and beyond. The partnership with LMS is an exciting development in PTI's continued evolution and will allow us to better serve our customers."