Scots Bearings has been acquired by Antifriction Components in a seven-figure deal that will create the largest specialist distributor of critical moving parts in Scotland.

Founded in 1986, Scots Bearings employs 60 staff at its headquarters in Aberdeen and its sites in Glasgow, Dundee, Inverness and Irvine.

The company will continue to operate under its existing name alongside Antifriction’s existing sites in Edinburgh and Inverness.

The combined business will have seven sites across the country and Scots Bearings’ founder David Jackson will remain as managing director.

Antifriction Components, which is based in Bristol, now has 19 sites across the UK. Established in 1976, it is now part of Gruppo Bianchi — one of Europe’s largest specialist distributors of power transmission, linear motion, fluid power systems and components.

With the acquisition of Scots Bearings, the UK becomes the group’s second largest market in continental Europe, with turnover exceeding £50m.

Andrew Fleming, managing director of Antifriction, said: “Scotland’s a really vibrant and important market for us.”

David Jackson, managing director of Scots Bearings, added: “As we enter this new chapter in our business history, we are very positive and excited about the opportunities it holds.”

Mr Alberto Bianchi, president and CEO of Gruppo Bianchi, commented: “Our group is relentlessly working to make industry more profitable.”

Bishop Fleming provided corporate finance advice to Antifriction, while Hall Morrice acted for Scots Bearings. Lindsays acted as legal advisers to Antifriction and Burness Paull advised Scots Bearings.