Motion Industries, Inc., has signed a definitive purchase agreement to acquire the operating assets of Canadian-based LSI Supply Inc. and its sister company 273 Ontario (which trades as LSI). The transaction is expected to close later this month, subject to customary closing conditions.
Headquartered in Windsor, Ontario, LSI Supply has five area locations and distributes bearings, seals, power transmission and fluid power components, and industrial supplies. Industries served include agriculture, automotive, food & beverage, marine, plastic injection, renewable energy, and tool & die. LSI also provides maintenance supplies for the military and wastewater services.
Jordan Sharpe, President of LSI said, “We are thrilled to join the Motion team and look forward to contributing to the company’s growth. With Motion, our offerings will be broader and deeper than ever, raising our customer service to new heights.”
“This acquisition will broaden our leadership position in eastern Canada,” said James Howe, President of Motion. “LSI’s talent, offerings, and markets complement Motion’s perfectly. The business culture is an especially good fit, which is critically important when joining forces and providing premier customer service. We look forward to welcoming LSI’s 30+ employees and creating significant opportunities for our teammates and supplier partners, which will increase value for our customers.”
Motion
www.motion.com
Filed Under: Awards • acquisitions