Founded in 1950, Florida Bearings also provides value-add services such as predictive maintenance and motor, gearbox and pump repair to a range of industries such as water, wastewater, municipal, food and aggregate. With headquarters in Miami, the company also has locations in Hialeah, Fort Lauderdale, Riviera Beach and Orlando. Florida Bearings has annual sales of approximately US$20 million.
Steve Smidler, president of KIT, said: “The acquisition of Florida Bearings provides a strong position in central and southern Florida and increases our exposure to key end markets. Most importantly Florida Bearings has a great reputation, strong customer relationships and a terrific group of dedicated employees that will integrate well with the Kaman family.”