Overview
Solve Industrial Motion Group is an established leader in the industrial sector with a strong emphasis on manufacturing high-quality Metric and American Standard power transmission components and industrial-grade bearings. Based in Charlotte, North Carolina, Solve operates under a unified brand umbrella that includes P.T. International, IPTCI Bearings, and LMS Bearings. Their solutions-driven approach focuses on producing components designed to withstand severe industrial conditions and enhance efficiency across applications such as automotive manufacturing, agriculture, food and beverage, forestry, and material handling.
Products and Services
Solve Industrial Motion Group offers an extensive array of industrial solutions that include sheaves, bushings & hubs, couplings, belts & belt accessories, timing pulleys, bearings, seals, couplings, motors, and chains. These products are selected to optimize performance and cater to various industry sectors.
Strategic Acquisitions and Growth Initiatives
Solve Industrial Motion Group has consistently pursued a strategy of expansion through acquisitions and strategic investments. Notable acquisitions include Bearings Limited, Tritan Brand, and Masterdrive in June 2022, which have been vital in broadening their market footprint and enhancing their product line. The acquisition by Audax Private Equity in July 2021 facilitated further growth and access to capital, allowing for the establishment of a new $34 million production facility aimed at boosting capabilities and workforce expansion.
Leadership Team
- Lisa Mitchell - Chief Executive Officer: Lisa Mitchell's leadership is characterized by strategic growth initiatives and partnerships, guiding Solve through significant expansions.
- Mark Chandler - Chief Operating Officer: Chandler, with expertise in global supply chain management, has played a crucial role in streamlining Solve's operations post his appointment in March 2022.
- Ernest Huber - Chief Information Officer: Appointed in March 2024, Huber is tasked with advancing Solve's technology innovation systems and implementing transformational information strategies.
Financials
Solve Industrial Motion Group reports an estimated annual revenue of $42.7 million, with a revenue per employee of approximately $353,000. The company employs 121 people and has achieved a 25% growth in its workforce over the previous year.
Competitors
Solve Industrial Motion Group faces competition from a diverse set of firms, notably in the power transmission and bearings market. Principal competitors include:
1. PowerDrive
2. WD Bearing Group
3. Emerson Bearing
4. Lucas Industrial
5. Akron Bearing
6. Tritan
7. Ringball
In related sectors, competitors like Anco Rendering Equipment, Recycling Equipment, Neugart USA, CTI Systems, and Pattons are notable. For example, Pattons is based in Charlotte, NC, with revenue of $85 million and 219 employees, while TIPPER TIE generates $91.6 million and employs 236 people.
Recent Developments
Solve continues to enhance its strategic growth following a significant restructuring in 2021. The integration of brands PTI, IPTCI, and LMS into its consolidated identity underlines its pursuit of market dominance. The investments from Audax Private Equity have fueled a drive for expanded manufacturing capabilities and have strengthened its competitive position in the power transmission market.
Contact Information
Further inquiries can be directed through the Solve Industrial Motion Group website: [Solve Industrial Motion Group](https://www.solveindustrial.com/), offering channels for general inquiries, sales, media, and career opportunities.
