Pfingsten acquires Next Point Bearing Group
The precision bearings distributor becomes a new platform, with management continuing to lead the business.
Pfingsten acquired Next Point Bearing Group, a distributor of precision and miniature bearings and related power transmission components. The company is based in Valencia, California, and has two additional distribution facilities in Mooresville, North Carolina.
It serves equipment manufacturers, distributors and end users in industrial machinery, material handling, aerospace and defense, and motion control. Services include cleanroom processing, re-lubrication, custom machining, kitting and technical support.
President John Burroughs and the management team will continue to lead the company. Pfingsten plans to support ecommerce, new products, geographic expansion and add-on acquisitions.
The transaction closed September 1 and was announced September 23.
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