FleetPride, Inc. has entered an agreement to acquire the assets of Ott’s Friction Supply, Inc. in a deal that is expected to close March 17.
The acquisition includes locations in Portland and Eugene, Ore. A new facility in the southern part of the greater Portland area is slated to open in the second quarter of 2014.
“Portland is a strategic market for FleetPride because of our unwavering commitment to serve our customers,” says Kevin Peters, CEO, FleetPride. “Expanding our footprint, both through acquisition and greenfield activity, allows us to offer our customers more distribution options to deliver product when and where they need it.”
Ott’s Friction Supply has been owned and operated by Jerry Weis, CEO and Chris Sweet, President since 1999, and the business itself dates back to the 1920s.
“We remain committed to growing our business through a broad assortment of quality brands, industry-leading product availability, and expanding our footprint in key markets throughout the U.S.,” says Peters. “We are excited to welcome the Ott’s employees to the FleetPride family. This combination of people, products and relationships positions us to be the choice in meeting our customers’ needs in the greater Portland, Eugene and Salem markets.”