Applied Industrial Technologies (NYSE: AIT), a Cleveland-based distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies and related maintenance supplies, has agreed to acquire Dallas, Texas-based Hydradyne, LLC, a fluid power and motion control systems distributor.
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Hydradyne has 500 associates in 33 locations across the Southeastern U.S. Its products and services power and control critical equipment across MRO and OEM applications in industrial, commercial and emerging growth verticals. It is expected Hydradyne will contribute annual sales of $260 million in the first year.
“We have always admired Hydradyne’s team and market approach. Their technical capabilities, local customer-centric culture and operational caliber aligns extremely well with our strategy and long-term objectives,” said Neil A. Schrimsher, CEO at Applied Industrial.
Applied Industrial has more than 590 operating facilities in North America, Australia, New Zealand, Singapore and Costa Rica, 12 distribution centers and more than 6,500 associates.
