Applied Industrial Technologies Acquires S. G. Morris Co.
October 02 2015 - 6:30AM
Applied Industrial Technologies (NYSE:AIT) today announced it has
acquired S. G. Morris Co. (SGM), a distributor of fluid power
components and provider of engineered fluid power systems. Terms of
the sale were not disclosed.
"SGM represents a strong strategic fit and further enhances our
fluid power market leadership," said Neil A. Schrimsher, President
& Chief Executive Officer for Applied®. "In addition to
providing customers the best components for their application, SGM
is a leader in the design and integration of fluid power, motion
control and lubrication solutions, which further strengthens our
value-add."
Founded in 1932, SGM has a team of 68 employees serving
Industrial and Mobile customers from three locations – Cleveland
and Toledo, Ohio, and Pittsburgh, Pennsylvania. SGM's full suite of
services – from selection of components to installation, startup
and training – provides a one-stop-shop for all fluid power
solutions. The company will operate as a subsidiary of Applied
under the name S. G. Morris Co., LLC.
Todd A. Barlett, Applied's Vice President – Acquisitions and
Global Business Development, added, "We are pleased to add the
talents and expertise of SGM to our experienced group of fluid
power subsidiaries. Their portfolio of products and services, and
their ability to solve unique and complex customer needs, provides
us many additional growth opportunities."
About Applied
Founded in 1923, Applied Industrial Technologies is a leading
industrial distributor that offers more than five million parts to
serve the needs of MRO and OEM customers in virtually every
industry. In addition, Applied provides engineering, design and
systems integration for industrial and fluid power applications, as
well as customized mechanical, fabricated rubber and fluid power
shop services. Applied also offers maintenance training and
inventory management solutions that provide added value to its
customers. For more information, visit www.applied.com.
CONTACT: For more information, contact Julie Kho, Applied
Industrial Technologies, 1 Applied Plaza, Cleveland,
OH 44115-5020, ph. 216-426-4483, e-mail jkho@applied.com.
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