Bearing Technologies Forms Dedicated M&A Division
Bearing Technologies Ltd. announced the hiring of a Director of M&A that represents the next step in the company's acquisition growth strategy.
Bearing Technologies Ltd. (www.bearing-technologies.com) announced the hiring of Jeff Hrehocik as Director of M&A and Corporate Finance. Hrehocik joins Bearing Technologies from G.E. and held previous positions at Parker Hannifin and Applied Industrial Technologies.
Bearing Technologies' President Laz Tromler, states: "Bringing Jeff on board to form a dedicated M&A group represents the next step in our company's acquisition growth strategy. Over the next 18 months we plan to aggressively seek acquisition opportunities that complement our current business, as well as those in adjacent mobile markets. Jeff and his team will allow us to be thorough in our selection and due diligence processes as we partner with companies that fit our core business model."
The addition of Jeff Hrehocik to our already skilled, dedicated and hungry management team will certainly help accelerate our growth strategy. We have an exciting future at Bearing Tech.
Mr. Tromler further adds: "We seek the right pieces to the puzzle. Mergers and acquisitions are in the news every day, and there are seemingly just as many stories of failure as there are successes. With targeted partners, we look for specific synergies and the related cohesiveness so that we can not only improve our overall efficiencies ... but translate these synergies into sales growth for all ... this will help guarantee that our story is one of tremendous success.
Some of Bearing Technologies' previous acquisitions include the purchase of Green Bearing Company in February 2003, which was fully integrated into it's modern, state-of-the-art 115,000 square foot Avon facility in early 2005, followed by the October 2006 acquisition of a controlling interest in Reineke Company LLC.
Bearing Technologies Ltd. is a manufacturer and private labeler of Wheel Hub Assemblies, Clutch Release Bearings, Repair Bearings and Hanger Bearings with a primary focus in the automotive replacement and service parts markets, but with select contracts with some OEM's. Bearing Technologies is a market leader in the design, manufacture and distribution of premium Gen II and Gen III hub assemblies.
Reineke Company LLC is located in a 144,000 sq. ft. manufacturing facility in Ashland, Ohio. Reineke Company provides O.E.M. quality cast iron rotor and forged steel hub solutions. Included in the product offering are Composite Rotors, Loose Rotors; Hub, Rotor, & Bearing Assemblies; and Hub & Bearing Assemblies. (www.reinekecompany.com)
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