For an undisclosed sum, H-D Advanced Manufacturing Co bought Innovative Mechanical Solutions Ltd and Leading Edge Heat Treatment. The acquired companies are collectively known as iMech. Based in Alberta, iMech designs and makes custom bearings for companies in the directional drilling motor industry. Its heat-treatment plant is in Edmonton, Alberta, while its warehouse and distribution center is located in Houston, Texas.
Chris DiSantis, CEO of H-D Advanced Manufacturing, said the partnership will benefit both companies and their customers. "iMech is a great fit for H-D. We're thrilled to be adding a new business line, exceptionally talented people and a tremendous customer base through this new partnership with iMech. iMech's custom bearings are specifically designed and manufactured for the harsh environments in which they are used, resulting in a better bearing with a longer life," he said.
H-D Advanced was formed by private equity firms The Riverside Company, Hicks Equity Partners, and Weinberg Capital Group. It specializes in acquiring companies that manufacture equipment for the precision-engineering sector.
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