Applied Industrial Technologies Completes Acquisition of Hydradyne, LLC
02 Gennaio 2025 - 2:00PM
Business Wire
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 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. Overall, our teams
are engaged and ready to fully capture these opportunities as we
progress toward our next financial objectives and long-term value
creation potential.
Applied affirms it expects the acquisition will contribute
approximately $260 million in sales and $30 million in EBITDA
before anticipated synergies, as well as be accretive to EPS,
within the first 12 months of ownership prior to
transaction-related expenses and the impact of purchase accounting
adjustments. Additional financial and operational details,
including EPS accretion guidance, will be provided when it reports
fiscal 2025 second quarter results later this month.
About Applied® Applied Industrial Technologies is a
leading value-added distributor and technical solutions provider of
industrial motion, fluid power, flow control, automation
technologies, and related maintenance supplies. Our leading brands,
specialized services, and comprehensive knowledge serve MRO
(maintenance, repair, and operations) and OEM (original equipment
manufacturing), and new system install applications in virtually
all industrial markets through our multi-channel capabilities that
provide choice, convenience, and expertise. For more information,
visit www.applied.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20250102751296/en/
Ryan D. Cieslak Director – Investor Relations & Treasury
216-426-4887 / rcieslak@applied.com
Grafico Azioni Applied Industrial Techn... (NYSE:AIT)
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Grafico Azioni Applied Industrial Techn... (NYSE:AIT)
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