July 28, 2022 – Blue River Financial Group has advised Solve Industrial Motion Group, manufacturer of high-quality bearings and power transmission components, and portfolio company of Audax Private Equity, on the recent acquisition of MasterDrive. The acquisition expands Solve’s product offering and availability of power transmission drive components.

Headquartered in Charlotte, NC, Solve Industrial Motion Group manufactures and sells bearings and power transmission component parts to multiple industrial markets. Solve’s portfolio includes P.T. International, IPTCI Bearings, LMS Bearings, Tritan Precision Power Transmission Components, SST Bearing Corporation and MasterDrive, Inc. Solve offers over 50,000 product SKUs from 10 regional distribution centers.

Founded in 1998, MasterDrive, Inc. is a major supplier and manufacturer of sheaves, belts, timing pulleys, and couplings that benefit a broad range of industrial applications. Based in Fort Atkinson, WI, the group has strategically expanded its portfolio to more than 9,000 SKUs, and distributes to domestic and international customers from 12 stocking locations.

Audax Private Equity is a leading middle market private equity firm with offices in Boston and San Francisco. Since its founding in 1999, the firm has raised over $32 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $9 billion in more than 150 platforms and over 1,100 add-on companies.

“It was a pleasure working with the leadership of Masterdrive and Solve on this transaction. For Solve, this partnership represents a meaningful expansion into product categories that will further complement customer offerings in the power transmission space. For Masterdrive, an opportunity to benefit from Solve’s industry-leading reach, and tremendous growth opportunity for their employees and leadership. We’re excited for the successes in store for the Solve/Masterdrive teams!” said Sara Clevenger, Principal of Blue River.

Lisa Mitchell, CEO of Solve Industrial Motion Group, said “MasterDrive shares our passion for solving customers’ challenges. Whether it’s finding the right part for an application or finding the right part in-stock, this furthers our quest to be the go-to resource for power transmission products.”

“We have proudly served our industrial distribution partners and customers in the power transmission market. By joining Solve, we’ll be able to offer more products, resources and services to our customers. It’s a win-win for everyone.” said Terry Schroeder, President of MasterDrive.


Sara Clevenger

About Blue River

Blue River Financial Group is a middle market merger and acquisition advisory firm headquartered in Bloomfield Hills, Michigan. It assists corporations, private equity groups and individuals in the sale and acquisition of businesses, and has completed assignments in multiple business segments. With over 20 years of experience spanning across 50 global industries, Blue River provides a suite of services to middle market clients including corporate development, private equity support, valuations and transaction consulting, placing a premium on relationship-centered transaction counsel and client focus.

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