Applied Industrial Technologies completes acquisition of Hydradyne
Applied Industrial Technologies completed its acquisition of Hydradyne LLC on December 31.
Based in Dallas, Texas, with locations across the Southeastern U.S., Hydradyne is a provider of fluid power solutions with advanced service capabilities and product offerings in hydraulics, pneumatics, electromechanical, instrumentation, filtration, and fluid conveyance.
“We are excited to announce the completion of this acquisition and officially welcome Hydradyne to the Applied team, said Applied President and Chief Executive Officer Neil A. Schrimsher. "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," he continued. "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.
INDUSTRIAL SUPPLY MAGAZINE
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