Precision metal bearings manufacturer NN Inc. has acquired the assets of V-S Industries, which has manufacturing sites in Wheeling, Illinois and Juarez, Mexico. The buyer did not reveal the terms of its purchase, but the CEO explained it is part of a new strategic plan.
NN Inc. produces metal bearing components, industrial plastic and rubber products, and precision metal components at 12 plants in the U.S., Europe, Mexico, and China. I
Formerly privately held, V-S Industries metal components are supplied to multiple industries, including electric motors, HVAC, power tools, automotive manufacturing, and medical equipment.
NN Inc. said it would continue the VS operations in Illinois and Mexico, and will manage those plants under its NN Precision Metals Components Group.
"Our acquisition of V-S Industries is the first of numerous transactions we are executing as a key component of our new strategic plan,” offered NN president and chief executive officer Rich Holder.
“The V-S portfolio is complementary to the products we currently manufacture in our Precision Metals Component Group,” he continued, “and provides us entry into adjacent markets and increases our global manufacturing footprint while allowing us to better serve both existing and new customers. We are actively engaged in other discussions and expect to announce additional transactions in the near future."