Applied Industrial Technologies closes Kopar deal
Applied Industrial Technologies has closed on its acquisition of Grupo Kopar (Kopar), a provider of emerging automation technologies and engineered solutions. Kopar is based in Monterrey, Mexico. The acquisition closed on May 1 and terms of the transaction were not disclosed.
“We are pleased to officially welcome Kopar to Applied," said Neil A. Schrimsher, president and chief executive officer for Applied. "This acquisition represents a key strategic step in the expansion of our automation platform with the extension of our footprint into Mexico. Kopar is a leader in the markets they serve and has strong alignment with our strategy focused on high-value robotics, machine vision, and IoT applications. They bring established customer and supplier relationships along with an experienced team of approximately 200 associates highly regarded for their technical and application expertise. We expect Kopar to drive solid momentum across our scaling automation position in North America, including positively influencing our sales and earnings growth into fiscal 2025 and beyond.”
Kopar operates from 16 locations primarily across Mexico, as well as Costa Rica and Texas, and serves customers primarily in food and beverage, automotive, light manufacturing, electronics, and pharmaceutical end markets. Kopar is expected to generate annual sales of approximately $60 million in the first year.
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