Birmingham, AL-based Motion Industries – No. 9 on Industrial Distribution's 2014 Big 50 List – announced Monday that it has agreed to acquire Euclid, OH-based Lake Erie Abrasive & Tool (LEA&T). Terms were not disclosed for the deal expected to close in early September.
Lake Erie specializes in custom-designed abrasive systems, and distribution of quality abrasive products, tools, and related machinery. The company has locations in Euclid, Greer, SC, and Howell, MI.
"We are very excited to become part of Motion Industries and to be able to leverage the added strength that the Company's brand provides," said Allen Howell, President of Lake Erie Abrasive & Tool. "It will be a good fit with customer relationships, which for both companies are built on a platform of trust, performance, and satisfaction."
"We are thrilled about gaining LEA&T's technical expertise in the abrasives category, which will help broaden Motion Industries' services even more in this product area," said Tim Breen, Motion Industries President and CEO. "We want to welcome all LEA&T employees to the Motion family, and we look forward to the contributions they will make to our Company in the years to come."