Glenn Hibl, president of Johnson Bearing and Supply, expects to expand the longtime Sparks company's market share by adding additional sales staff and targeting new markets.
Hibl purchased the company in August. Bill Johnson founded Johnson Bearing and Supply 28 years ago from his home. Since then coming aboard, Hibl added an additional salesperson, implemented inventory control and accounting systems and scrutinized operations to improve the profitability of Johnson Bearing. The company located at 515 Vista Blvd. in Sparks employs five.
"We are looking at suppliers and trying to decrease inventory costs by going directly to the manufacturers when possible and also looking at which vendors provide us the best quality for our products," Hibl says.
Hibl scoured online resources in his search for a company to buy, and Johnson Bearing was a strong candidate as well as a good alternative to the usual host of liquor stores and coin-operated laundries on the market. Hibl formerly worked as an accountant at Grant Thornton, and he also spent time at Allied Washoe Petroleum and last worked as a consultant for The CFO Group. Prior to that, he spent 10 years at Globe Turbocharger, working his way up from the inventory room to running the sales department.
Hibl purchased the business from Karen Johnson, who placed it up for sale after her husband died in 2011. Jim Edlund, associate with BTI Mergers and Acquisitions, represented both parties in the sale.
Hibl hopes to expand Johnson Bearing's market share by building name recognition and targeting the mining industry. The company's main product lines are bearings for industries that include, industrial manufacturing, racing, automotive, machine repair and other applications. Johnson Bearing also supplies belts, gears, sprockets and other industrial products such as hoses and electrical engines.
