CLEVELAND–( BUSINESS WIRE )–Applied Industrial Technologies (NYSE: AIT ) announced today that it has completed the acquisition of Hydradyne, LLC on December 31, 2024. Headquartered in Dallas, Texas with locations throughout the southeastern US, Hydradyne is a premier provider of of fluid drive solutions with advanced service capabilities and product offering in hydraulics, pneumatics, electromechanics, instrumentation, filtration and fluid transfer.
Neil A. Schrimsher, President and 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 leadership position in fluid power distribution in the US by leveraging complementary technical capabilities and innovative engineered solutions in legacy and emerging end markets. Combined with the various secular headwinds and increasing customer service demands developing across the industry, we see this transaction moving forward with significant growth and operational momentum. Overall, our teams are engaged and ready to take full advantage of these opportunities as we move toward our next 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 to EPS, within the first 12 months of ownership before transaction-related costs and the impact of purchase accounting adjustments. Additional financial and operational details, including EPS accretion guidance, will be provided when fiscal 2025 second quarter results are released 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 technology and related maintenance equipment. Our leading brands, specialized services and comprehensive knowledge serve MRO (maintenance, repair and operations) and OEM (original equipment manufacturing) and new systems installation applications in nearly 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 of Investor Relations and Treasury
216-426-4887 / rcieslak@applied.com
Source: Applied Industrial Technologies, Inc.
