The DAK Group on Tuesday said its client BMS Bearings, headquartered in White Plains, New York, has been sold to Next Point Bearing Group of Valencia, California.
The Rochelle Park-based investment bank, specializing in middle-market mergers &
acquisitions worldwide, served as the exclusive investment banker and financial adviser to BMS Bearings, initiating and managing the process.
“The owners and management of BMS Bearings have monetized on an exceptional company founded and run by family since 1957. By combining forces with the Next Point Bearing Group, this acquisition propels BMS to enter into the next growth phase as a nationally recognized go-to source for standard and hard-to-find bearings for distributors, rebuilders and OEMs,” Milton Kahn, managing director, the DAK Group, said.
The transaction capitalizes on BMS Bearings’ leadership position as a value-added distributor of high-quality products servicing customers throughout the U.S. With a 65-plus-year legacy, and as a multigenerational family business, BMS Bearings is known for its extensive inventory and superior customer service.
John Burroughs, president of Next Point Bearing Group, stated: “We are grateful for the opportunity to partner with the BMS Bearings management team as we continue to build our business for maximum customer satisfaction. With more inventory on hand, greater product selection and improved sourcing capabilities, the BMS acquisition significantly expands our ability to meet all of our customer’s needs.”
“We are confident that our continued investment in and support of this portfolio company is building an industry leader. The BMS acquisition is a quantifiable step in the right direction,” Mark Mickelson, managing partner of Next Point Capital Corp., said.
