Harvey & Company partnered with experienced distribution executive, Bob Grubbs, and a Midwest-based private equity firm to make an investment within the industrial distribution category. Bob Grubbs was formerly CEO of Anixter International, a global distributor of communication and security products, electrical and electronic wire & cable, fasteners and other small components. In July 2013, we initiated the majority recapitalization of OTP Industrial Solutions. Based in Columbus, Ohio and founded in 1963, OTP Industrial Solutions, now a division of Ohio Transmission Corporation, has established itself as a leading distributor of a broad portfolio of industrial products to more than 13,000 customers in a variety of industrial and commercial end markets. The company’s principal product offerings include pumps, bearings, power transmission equipment and fluid power solutions, as well as compressed air products (compressors and ancillary products), and related services.
The transaction allowed the management team and employee-owners to achieve a significant liquidity event, but also retain a meaningful ownership post-closing. OTP’s goal is to acquire and partner with other leading regional distributors to build on its platform within this space.
About Ohio Transmission Corporation
Established in 1963, Ohio Transmission Corporation is one of the largest industrial distributors and service providers in the United States. Its divisions include OTP Industrial Solutions, a provider of expert solutions for industrial motion control, fluid power, power transmission and pumping systems, and Air Technologies®, a compressed air system equipment and service provider and the largest distributor of Atlas Copco compressed air equipment in North America. Ohio Transmission Corporation is a partially employee-owned company that maintains locations throughout the Midwest and South. Ohio Transmission Corporation’s 650 associates share its founding vision of delivering excellent value through work with integrity. For more information, please visit www.otpnet.com and www.aircompressors.com.