AIT - Mergers and acquisitions

Applied Industrial Technologies (NYSE:AIT) today announced it completed the acquisition of Hydradyne, LLC on December 31, 2024. Based in Dallas, Texas with locations across the Southeastern U.S., Hydradyne is a premier provider of fluid power solutions with advanced service capabilities and product offerings in hydraulics, pneumatics, electromechanical, instrumentation, filtration, and fluid conveyance. Neil A. Schrimsher, President & Chief Executive Officer for Applied, commented, "We are excited to announce the completion of this acquisition and officially welcome Hydradyne to the Applied team. This transaction will enhance our leading fluid power distribution position in the U.S. by le

Strategic Investment Within Applied's Core Service Center Network Applied Industrial Technologies (NYSE:AIT) today announced the acquisition of both Bearing Distributors, Inc. (Bearing Distributors) and Cangro Industries, Inc. (Cangro), providers of bearings, power transmission, industrial motion, and related service and repair capabilities. Bearing Distributors is based in Columbia, South Carolina, while Cangro is based in Long Island, New York. Terms of the transactions were not disclosed. Neil A. Schrimsher, President & Chief Executive Officer for Applied, commented, "We welcome Bearing Distributors and Cangro to Applied's U.S. Service Center network as we continue to bolster our loc

Expansion of Automation Platform Continues Applied Industrial Technologies (NYSE:AIT) today announced the acquisition of Advanced Motion Systems Inc. (AMS), a provider of automation products, services, and engineered solutions focused on a full range of machine vision, robotics, and motion control products and technologies. Terms of the transaction were not disclosed. Neil A. Schrimsher, President & Chief Executive Officer for Applied, commented, "We welcome AMS to Applied as we continue the expansion of our automation platform. AMS aligns well with our solutions-centric strategy, acting as a key technical consultant to their customers' emerging automation needs with strong solutions ca

Continuing Strategic Expansion of Automation Solutions Applied Industrial Technologies (NYSE:AIT) today announced the acquisition of Automation, Inc., a provider of automation products, services, and engineered solutions focused on machine vision, collaborative and mobile robotics, motion control, intelligent sensors, pneumatics, and other related products and solutions. Terms of the transaction were not disclosed. Neil A. Schrimsher, President & Chief Executive Officer for Applied, commented "Today's announcement represents another key step in the continued expansion of our next generation automation offering. Automation, Inc. is a leading provider of emerging automation technologies acr

Continuing Expansion of Automation Offering Applied Industrial Technologies (NYSE:AIT) today announced it has acquired R.R. Floody Company, Inc. ("Floody"), a provider of automation products, services, and engineered solutions focused on machine vision, mobile and collaborative robotics, motion control, material handling, and digital capabilities. Terms of the transaction were not disclosed. Neil A. Schrimsher, President & Chief Executive Officer for Applied, commented, "We are pleased to announce the addition of the R.R. Floody Company, which further enhances our growing automation offering focused on next generation technologies. Floody has a strong presence across the U.S. Midwest mark

CLEVELAND--(BUSINESS WIRE)--Applied Industrial Technologies (NYSE: AIT) today announced it has acquired Gibson Engineering Company, Inc. (“Gibson”), a provider of automation products, services, and engineered solutions focused on machine vision, motion control, mobile and collaborative robotic solutions, intelligent sensors, and other related equipment. Terms of the transaction were not disclosed. Neil A. Schrimsher, President & Chief Executive Officer for Applied, commented “We are pleased to announce the addition of Gibson Engineering and the continued expansion of our next generation automation offering and footprint. Gibson is a leading provider of emerging automation technolog