Midwest Truck & Auto Parts announced the acquisition of the assets of Richmond Gear from Regal Beloit Corp. for an undisclosed amount. Richmond Gear, located in Liberty, S.C., manufactures and distributes rings and pinions, transmissions and traction control devices for the racing, high-performance and offroad aftermarkets. Midwest’s acquisition of Richmond Gear also includes the Powertrax and Lock-Right product lines.
“We are very excited to add the Richmond Gear, Powertrax and Lock-Right product groups to our Light Duty and Hi-Performance divisions,” says Mark Chudacoff, president and chief executive officer of Midwest Truck & Auto Parts. “The combination of Motive Gear, Motive Gear Performance, Ten Factory, Richmond Gear, Powertrax and Lock-Right creates a synergy that will be unmatched in the aftermarket. This acquisition strengthens our position as the worldwide leader in the racing, high-performance and offroad aftermarkets.”