Climax Metal Products Bought for $13.6M, Will Remain in Mentor

Climax Metal Products Co., a manufacturer on Tyler Boulevard, will remain in Mentor for the foreseeable future, though it was recently purchased by a firm in Oxford, Conn.

RBC Bearings Inc. purchased Climax for $13.6 million this month, according to Crain's Cleveland Business. However, Mentor Economic & Community Development Director said the company informed him that it isn't going anywhere.

"I spoke with the president (Christopher Curran) yesterday, and they just signed a new lease on the property for 10 years," Traub said. "Their intent is to stay put and grow the company here in Mentor."

Climax manufactures a wide range of industrial components for the transmission industry and the maintenance, repair and operations (MRO) markets. The company also produces special products for original equipment manufacturers.

“The addition of Climax Metal Products supports our long-term growth strategy as we continue to expand and complement our existing product portfolio, customer base and distribution channels,” Michael J. Hartnett, RBC's president, chairman and CEO, said in a news release.

Climax moved to Mentor from Wickliffe in 2011. The company brought 45 employees and a $2 million payroll along with it.

RBC estimates that Climax had sales of $14 million last year.