EIS, LLC Announces Acquisition of Midpoint Bearing
EIS Legacy, LLC (“EIS”), a leading value-added distributor of material and supply chain solutions, today announced that it has acquired Midpoint Bearing. This acquisition broadens EIS’s product offering and technical expertise in the apparatus repair industry, as well as increasing their presence in high-growth industries, such as alternative energy and wind. EIS is a portfolio company of Audax Private Equity.
Midpoint Bearings was founded in 1985 by Dan & C.C. Vest and is an authorized distribution partner of world class manufacturers such as Dichtomatik, Garlock, Koyo, NTN, SKF, Schaeffler, Nachi, and many more. Their commitment to providing an exceptional customer experience is recognized throughout the market.
“EIS is proud to welcome Dan Vest and the Midpoint Bearing group to our platform and is excited for the opportunity to deepen our partnership in the apparatus repair market. Midpoint’s leading presence in wind energy bearings accelerates our rapidly growing renewable energy platform, providing industry-leading application expertise. We look forward to learning from each other and continuing to develop the most experienced technical sales team in the market,” said Glenn Pennycook, CEO of EIS.
Dirk Foreman, Chief Commercial Officer of EIS, added, “Midpoint Bearing has established an amazing brand in our industry, built on the same core beliefs and commitments as EIS – dedication to our customers and the support and development of our employees. This is a perfect fit for our companies and an amazing opportunity to grow together.”
C.C. Vest, President of Midpoint Bearing, shared, “I’m incredibly proud of the Midpoint team and the business we’ve created. I know that this group will continue to grow and thrive as a part of the EIS team.”