Applied Industrial Technologies Acquires Automation, Inc.
November 02 2022 - 8:30AM
Business Wire
Continuing Strategic Expansion of Automation
Solutions
Applied Industrial Technologies (NYSE: AIT) today announced the
acquisition of Automation, Inc., a provider of automation products,
services, and engineered solutions focused on machine vision,
collaborative and mobile robotics, motion control, intelligent
sensors, pneumatics, and other related products and solutions.
Terms of the transaction were not disclosed.
Neil A. Schrimsher, President & Chief Executive Officer for
Applied, commented “Today’s announcement represents another key
step in the continued expansion of our next generation automation
offering. Automation, Inc. is a leading provider of emerging
automation technologies across the U.S. Upper Midwest with advanced
capabilities in machine vision, pneumatic automation, and
value-added assembly services and engineered solutions. They bring
established customer and supplier relationships, along with an
experienced team highly regarded for their technical and
application expertise that aligns with our growth strategy, market
focus, and value proposition.”
Automation, Inc. is based in Minneapolis, Minnesota, and
operates with a team of more than 50 associates from one location.
The Company serves customers primarily across pharmaceutical,
manufacturing, life sciences, consumer products, and other various
industrial industries.
Mr. Schrimsher added, “Our automation platform is gaining
notable traction within our served markets. Secular demand
tailwinds are building as customers manage through structural labor
constraints and evolving production considerations to support
long-term growth and supply chain initiatives. We are well
positioned to capitalize on this opportunity given our application
and engineering expertise, as well as accelerated adoption of
advanced technologies aligned with our product focus including
collaborative and mobile robots, machine vision, and digital
solutions. The addition of Automation, Inc. will further optimize
this position, including expanding our footprint across key
verticals and geographies, while supplementing our value-added
services and cross-selling efforts. Overall, we see significant
potential and synergies building across our automation platform
that stand to enhance our growth and earnings potential long term.
We welcome Automation, Inc. to Applied, and look forward to
leveraging their capabilities going forward.”
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/20221102005266/en/
Ryan D. Cieslak Director – Investor Relations & Treasury
216-426-4887 / rcieslak@applied.com
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