The DAK Group, a leading investment bank specializing in middle-market mergers and acquisitions worldwide, announces the sale of its client Bearings Limited headquartered in Hauppauge, NY, to Solve Industrial Motion Group, of Charlotte, N.C., a platform company of Audax Private Equity.

The DAK Group served as the exclusive investment banker and financial advisor to Bearings Limited initiating and managing the process.

“The owners and management of Bearings Limited have monetized on an exceptional company founded and run by family since 1947. By combining forces with Solve Industrial Motion this acquisition propels Solve to enter into the next growth phase for their nationally recognized manufacturing and wholesale distribution business for bearings and power transmission components,” stated Jonathan Roth, Director, The DAK Group.

This transaction capitalizes on Bearings Limited leadership position as a value-added distributor of high-quality products servicing customers from six locations throughout the United States. A 70+ year legacy, and multi-generational family business, Bearings is known for its extensive inventory and superior customer service.

“We are excited to be joining the Solve family. This partnership will be a win-win for our dedicated employees, and distributor customers. There is a natural fit of culture, operations and a strong focus on providing superior customer service,” stated Jeff Feldman, Senior VP, Bearings Limited.