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 across the U.S. Upper Midwest with advanced capabilities in machine vision, pneumatic automation, and value-added assembly services and engineered solutions. They bring established customer and supplier relationships, along with an experienced team highly regarded for their technical and application expertise that aligns with our growth strategy, market focus, and value proposition.”
Automation, Inc. is based in Minneapolis, Minnesota, and operates with a team of more than 50 associates from one location. The Company serves customers primarily across pharmaceutical, manufacturing, life sciences, consumer products, and other various industrial industries.
Mr. Schrimsher added, “Our automation platform is gaining notable traction within our served markets. Secular demand tailwinds are building as customers manage through structural labor constraints and evolving production considerations to support long-term growth and supply chain initiatives. We are well positioned to capitalize on this opportunity given our application and engineering expertise, as well as accelerated adoption of advanced technologies aligned with our product focus including collaborative and mobile robots, machine vision, and digital solutions. The addition of Automation, Inc. will further optimize this position, including expanding our footprint across key verticals and geographies, while supplementing our value-added services and cross-selling efforts. Overall, we see significant potential and synergies building across our automation platform that stand to enhance our growth and earnings potential long term. We welcome Automation, Inc. to Applied, and look forward to leveraging their capabilities going forward.”
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 and OEM end users 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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Ryan D. Cieslak
Director – Investor Relations & Treasury
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