Motion Industries signs a definitive purchase agreement to acquire the operating assets of Canadian-based LSI Supply Inc. and its sister company 273 Ontario (which trades as LSI). The transaction is expected to close later this month, subject to customary closing conditions.
“This acquisition will broaden our leadership position in eastern Canada,” says James Howe, president of Motion. “LSI’s talent, offerings and markets complement Motion’s perfectly. The business culture is an especially good fit, which is critically important when joining forces and providing premier customer service. We look forward to welcoming LSI’s 30+ employees and creating significant opportunities for our teammates and supplier partners, which will increase value for our customers.”
Key Takeaways:
- Headquartered in Windsor, Ontario, LSI Supply has five area locations and distributes bearings, seals, power transmission and fluid power components and industrial supplies. Industries served include agriculture, automotive, food & beverage, marine, plastic injection, renewable energy and tool & die. LSI also provides maintenance supplies for the military and wastewater services.
