Regal Beloit Corp. has entered into an agreement to sell the assets of the Richmond Gear division to Midwest Truck and Auto Parts Inc. for an undisclosed amount.
Richmond Gear, located in Liberty, S.C., manufactures and distributes ring and pinions, transmissions and traction control devices for the racing, high-performance and off-road aftermarkets. Midwest’s acquisition of Richmond Gear also includes the Powertrax and Lock-Right product lines, according to a press release.
Midwest Truck & Auto Parts, headquartered in Chicago, globally sources and supplies a wide variety of components to the heavy-duty, light-duty and high-performance aftermarkets, according to the release.
Regal Beloit manufactures electric motors, mechanical and electrical motion controls and power generation products serving markets throughout the world.