Solve Industrial Motion Group Expands Reach with Power Rite Products Acquisition

In a pivotal move in the industrial solutions sector, Solve Industrial Motion Group has officially announced its acquisition of Power Rite Products, a significant player in the market known for its high-quality mechanical power transmission components. This strategic acquisition marks an important milestone for Solve, which aims to solidify its reputation as a trusted partner in engineered bearings and power transmission solutions.

Expansion of Product Offerings

Ernie Lauber, CEO of Solve, emphasized the importance of this acquisition for the company's growth trajectory. He stated, "At Solve we're striving to be the trusted partner for engineered bearings and power transmission solutions." Power Rite's well-established expertise in chain components, alongside its strong customer relationships, is set to empower Solve in expanding its product range, enabling the company to better serve its key customers and various industries.

A Vision for Growth

As part of this acquisition, Robert Capanelli, President of Power Rite Products, expressed enthusiasm about joining the Solve family. "I am thrilled for our company to join the Solve family," Capanelli said. He highlighted Solve’s solid track record of growth and their commitment to investment, presenting an exciting future for both the employees and customers of Power Rite.

This synergy anticipates a seamless integration of Power Rite into Solve’s broader framework, ensuring that customer dedication remains a core focus vital for continued success.

Background of Solve Industrial Motion Group

Founded in 2020, Solve Industrial Motion Group was established to combine the unique strengths of the PTI, IPTCI, and LMS brands. Since its inception, the company has successfully integrated five brands into its portfolio, significantly expanding its offerings in bearings and power transmission solutions. Currently, Solve operates as a comprehensive solutions provider with a vast North American support network, delivering custom-engineered solutions that meet the demands of various industrial applications. Their commitment to innovation and quality sets them apart in the industry.

Power Rite’s Legacy

Power Rite Products, founded in 1985, has gained recognition as one of North America’s leading suppliers of chain and related power transmission components. The company prides itself on its manufacturing expertise and application knowledge concerning chains, bolstered by robust relationships with both OEM and distribution customers. As part of Solve, Power Rite’s rich history in providing reliable products will continue to benefit their growing customer base.

Looking Forward

This acquisition is more than just a simple alignment of two companies; it represents a merging of visions and values focused on customer success. With its sights set firmly on future growth, Solve Industrial Motion Group is strategically positioning itself to leverage Power Rite's operational strengths and industry connections, thereby unlocking new opportunities for expansion and innovation.

As the industrial landscape evolves, technology and customer expectations continue to change, making this acquisition a timely and strategic decision. Both Lauber and Capanelli acknowledge that the road ahead will pave the way for enhanced product offerings and superior service to clients across the North American market.

In conclusion, as Solve Industrial Motion Group welcomes Power Rite Products into its portfolio, the industry can expect a broader range of high-quality mechanical power transmission products and solutions tailored to meet the needs of a dynamic market. This acquisition exemplifies not just growth through expansion, but a merge of cultures dedicated to excellence and reliability.

The future looks promising for Solve and Power Rite as they embark on this journey together, bringing their shared commitment to engineering solutions that stand the test of time.