A multibillion-dollar industrial supplier based in the United States has bought a company with facilities in three Atlantic provinces, including one in Newfoundland and Labrador.
Motion Industries Inc. announced its purchase of TRC Hydraulics Inc.this week, a couple of days after the transaction closed.
One of TRC's four Atlantic facilities is located in Paradise.
TRC is a supplier of hydraulic parts and services, and also handles manufacturing work through a subsidiary company, TRC Manufacturing. It serves multiple business sectors, including oil and gas, mining, aquaculture, marine and automotive.
The company was founded in New Brunswick in 1986. In addition to a pair of facilities in Dieppe and the one in Paradise, TRC has a location in Dartmouth, N.S.
Last year, TRC started a U.S. division of the company in South Carolina. According to its website, TRC has over 100 employees.
“This is a fantastic opportunity to grow our business with a leading company that shares the same core values as we do,” TRC president and CEO Terry Coyle said in the release. “We look forward to leveraging the many resources that Motion Industries offers and enhancing our services to provide greater value to our customers.”
Motion Industries, headquartered in Birmingham, Ala., has over 550 locations in North America and serves more than 200,000 customers active in a variety of sectors, including food and beverage, oil and gas, mining and forestry, among others. According to the release, its annual sales total $6 billion. Monday's release also announced the purchase of an American aluminum extrusion components distributor, F&L Industrial Solutions Inc.
“We are pleased to welcome these outstanding organizations, TRC Hydraulics and F&L Industrial, to the Motion family,” Motion Industries president Randy Breaux said in the release. “TRC gives us the opportunity to expand our hydraulics business in the Atlantic Canada markets. … We look forward to working with the talented people of both companies to grow our market footprint and build on our industry-leading position, creating even more value for our customers in the coming years.”