CLEVELAND–( BUSINESS WIRE )–Applied Industrial Technologies (NYSE: AIT ) announced today that it has completed the acquisition of Hydradyne, LLC effective December 31, 2024. Based in Dallas, Texas, with locations in the southeastern US, Hydradyne is a premier provider. Fluid power solutions with advanced service capabilities and product offerings in hydraulics, pneumatics, electromechanical, instrumentation, filtration and fluid transfer.
Neil A. Schrimscher, President and CEO of Applied, said, “We are pleased to announce the completion of this acquisition and to officially welcome Hydradyne to the Applied team.” This transaction will strengthen our leading fluid power distribution position in the US by leveraging additional technical capabilities and innovative engineering solutions in legacy and emerging markets. With the various secular headwinds and expanding customer service requirements evolving across the industry, we see significant growth and operational momentum ahead of this transaction moving forward. Overall, our teams are engaged and committed to fully capturing these opportunities as we move toward our future financial goals and long-term value creation potential.
Applied confirms that it expects the acquisition to contribute approximately $260 million in sales and $30 million in EBITDA before expected synergies, as well as accretive EPS, in the first 12 months of ownership before transaction-related costs and acquisition accounting adjustments. . Additional financial and operational details, including EPS accretion guidance, will be provided when it reports its fiscal 2025 second quarter results later this month.
About Applied ®
Applied industrial technologies (NYSE: ) is a leading value-added distributor and provider of technical solutions for industrial motion, fluid power, flow control, automation technologies and related utilities. Our leading brands, specialized services and comprehensive knowledge serve MRO (maintenance, repair and operation) and OEM (original equipment manufacturing) and new system installation applications in virtually every industrial market through our omni-channel capabilities, providing choice, convenience, and expertise. For more information, visit www.applied.com.
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Ryan D. Cieslak
Director of “Invector Relations & Treasury
216-426-4887 / rcieslak@applied.com
Source: Applied Industrial Technologies, Inc.