OH-based Ohio Transmission Corporation announces the acquisition of the assets of the Somerset, NJ branch location of Argo International Corporation.
The New Jersey branch of Argo International Corp., is an industrial distributor focused on the industrial markets for pumps, repairs, and electrical products. The Somerset, NJ branch will operate as a branch location of OTP Industrial Solutions, which provides expert solutions for industrial pumps, electrical, motion control, fluid power, spray finishing and power transmission systems.
With this acquisition, Ohio Transmission Corporation now has 28 locations throughout the South and the Midwest and Northeast regions, along with 12 service shops. The addition of Argo’s eight associates brings Ohio Transmission Corp.’s total employment to more than 780 employees.
As a branch of OTP Industrial Solutions, Argo N.J., will have access to OTC’s vast product and service offerings and support resources. The acquisition provides significant growth opportunities for Argo’s associates and will provide its customers with a more comprehensive set of technical solutions.
Jones Day has advised Ohio Transmission Corporation in the acquisition with a team led by M&A partner Jeffrey Litle.
Involved fees earner: Jeffrey Litle – Jones Day;
Law Firms: Jones Day;
Clients: Ohio Transmission Corporation;