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APPLIED INDUSTRIAL TECHNOLOGIES, INC.

(AIT)
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Applied Industrial Technologies : Acquires R.R. Floody Company

08/19/2021 | 08:06am EDT

Continuing Expansion of Automation Offering

Applied Industrial Technologies (NYSE: AIT) today announced it has acquired R.R. Floody Company, Inc. (“Floody”), a provider of automation products, services, and engineered solutions focused on machine vision, mobile and collaborative robotics, motion control, material handling, and digital capabilities. 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 the R.R. Floody Company, which further enhances our growing automation offering focused on next generation technologies. Floody has a strong presence across the U.S. Midwest market, and brings valuable and innovative capabilities in advanced facility automation with a focus on machine vision. Floody’s engineered solutions and technical expertise align with our overall strategy, and provide further momentum to our scaling automation position into early fiscal 2022. We welcome Floody to Applied and look forward to their contributions going forward.”

Based in Rockford, IL, Floody’s team of 18 associates operates from one location and serves customers primarily across consumer packaging, food and beverage, pharmaceutical, medical technology, and general industrial industries.

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.


ę Business Wire 2021
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Financials (USD)
Sales 2022 3 550 M - -
Net income 2022 212 M - -
Net Debt 2022 - - -
P/E ratio 2022 17,8x
Yield 2022 1,39%
Capitalization 3 677 M 3 677 M -
Capi. / Sales 2022 1,04x
Capi. / Sales 2023 0,99x
Nbr of Employees 5 947
Free-Float 70,1%
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Number of Analysts 5
Last Close Price 95,42 $
Average target price 110,33 $
Spread / Average Target 15,6%
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Managers and Directors
Neil A. Schrimsher President, Chief Executive Officer & Director
David K. Wells Chief Financial Officer, Treasurer & VP
Peter C. Wallace Chairman
Lonny D. Lawrence Vice President-Information Technology
Peter A. Dorsman Independent Director
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