Applied Industrial Technologies Acquires Gibson Engineering
January 05 2021 - 6:30AM
Business Wire
Continuing Expansion of Automation
Capabilities
Applied Industrial Technologies (NYSE: AIT) today announced it
has acquired Gibson Engineering Company, Inc. (“Gibson”), a
provider of automation products, services, and engineered solutions
focused on machine vision, motion control, mobile and collaborative
robotic solutions, intelligent sensors, and other related
equipment. Terms of the transaction were not disclosed.
Neil A. Schrimsher, President & Chief Executive Officer for
Applied, commented “We are pleased to announce the addition of
Gibson Engineering and the continued expansion of our next
generation automation offering and footprint. Gibson is a leading
provider of emerging automation technologies across the U.S.
Northeast and Mid-Atlantic markets. They bring established customer
and supplier relationships, along with an experienced team highly
regarded for their technical and engineering expertise that aligns
with our growth strategy, market focus, and value proposition.”
Based in Norwood, Massachusetts, Gibson’s team of more than 40
associates operates from one location and serves customers across
life sciences, medical device, electronics, plastics, and various
industrial and consumer industries.
Mr. Schrimsher added, “Following three acquisitions in the past
16 months, we are making solid progress in growing our specialized
automation offering and accelerating Applied’s growth opportunities
into calendar 2021 and beyond. We welcome Gibson and look forward
to leveraging their capabilities across our leading technical
industry position as we continue to support our customers’ most
critical assets and operational requirements.”
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/20210105005256/en/
Ryan D. Cieslak Director – Investor Relations & Treasury
216-426-4887 / rcieslak@applied.com
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