Applied Industrial Technologies Acquires Advanced Control Solutions
October 07 2020 - 6:30AM
Business Wire
Expands Automation Offering & Geographic
Reach
Applied Industrial Technologies (NYSE: AIT) today announced it
has acquired Advanced Control Solutions (“ACS”), a provider of
automation products, services, and engineered solutions focused on
machine vision equipment and software, mobile and collaborative
robotic solutions, intelligent sensors, logic controllers, and
other related equipment. Terms of the transaction were not
disclosed.
“The addition of ACS extends and enhances our automation
offering by providing next generation automation solutions through
emerging technologies and specialized engineering services,” said
Neil A. Schrimsher, President & Chief Executive Officer for
Applied. “Their strong Southeast presence brings established
customer relationships and supplier partnerships, plus an
experienced team with valuable capabilities including
state-of-the-art automation training and machine vision engineering
expertise.”
Founded in 1998, ACS and its team of 43 associates serve
customers throughout Alabama, Georgia, Mississippi, South Carolina
and Tennessee from four locations – Marietta, GA; Spring Hill
(Nashville), TN; Knoxville, TN; and Birmingham, AL. The company
participates in a variety of end markets common to Applied, namely
life sciences, packaging and logistics, industrial manufacturing,
and automotive.
Mr. Schrimsher added, “As we’ve previously stated, automation is
an expanding vertical for Applied that is further differentiating
our value proposition, diversifying our end-market mix, and
enhancing our growth profile. ACS represents the next step in this
strategic opportunity following our August 2019 acquisition of
Olympus Controls. We expect their combined capabilities and
supplier alignment to drive near-term sales synergies, as well as
cross-selling opportunities tied to our leading technical industry
position and embedded customer relationships across industrial end
markets. We welcome ACS into our company and look forward to
leveraging their innovative technology and capabilities to further
accelerate growth and value creation for Applied’s
stakeholders.”
About Applied® 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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version on businesswire.com: https://www.businesswire.com/news/home/20201007005292/en/
Ryan D. Cieslak Director – Investor Relations & Treasury
216-426-4887 / rcieslak@applied.com
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