Sliding Rings and Spinning Holes

We construct smooth supergravity solutions describing a BPS black ring with a BPS black hole centered at an arbitrary distance above the ring. We find that as one moves the black hole the entropy of the ring remains constant, but the angular momentum coming from the supergravity fluxes changes. Our solutions also show that in order to merge a BPS black ring with a BPS black hole one has to increase one of the angular momenta of the ring, and that the result of the merger is always a BMPV black hole. We also find a class of mergers that are thermodynamically reversible, and comment on their physics.