P.T. International acquires LMS Bearings
P.T. International Corporation (“PTI”), a portfolio company of Tonka Bay Equity Partners (“Tonka Bay”), is excited to announce the strategic acquisition of LMS Bearings (“LMS”), a premier provider of high-quality power transmission products. LMS provides a wide range of bearings and related products to a diverse customer base primarily located throughout the Western U.S. With a product base that provides a natural extension to PTI’s existing mix, the acquisition creates significant opportunity to drive additional product through PTI’s existing distribution network while providing additional support and expertise to LMS’s customer network.
Tonka Bay partnered with PTI in 2012 and has subsequently invested in the team and infrastructure to continue to build a leading power transmission platform. LMS represents the first add-on acquisition that PTI has executed under Tonka Bay’s ownership.
“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.”
About P.T. International
PTI is a distributor of metric and imperial power transmission products. PTI provides mounted ball and roller bearing units, roller chains, gears, sprockets and other products to original equipment manufacturers and large national distributors for use across diverse end-markets. For more information, visit www.ptintl.com.
About Tonka Bay Equity Partners
Based in Minnetonka, MN, Tonka Bay Equity Partners is a private equity firm that acquires and invests in lower middle market businesses in the highly-engineered manufacturing, business services and value-added distribution sectors. For more information, call (952) 345-2035 or visit tonkabayequity.com.
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