Neil Schrimsher, president & CEO of Applied Industrial Technologies, said: “This transaction will enhance our leading fluid power distribution position in the US by leveraging complementary technical capabilities and innovative engineered solutions across legacy and emerging end markets. Combined with various secular tailwinds and expanding customer service requirements developing across the industry, we see notable growth and operational momentum building from this transaction moving forward.”
Applied Industrial Technologies expects that the acquisition will contribute approximately US$260 million in sales and US$30 million in EBITDA before anticipated synergies.
