Applied Industrial Technologies, Inc. acquired Advanced Control Solutions LLC for $17.9 million.
October 06, 2020
Share
Applied Industrial Technologies, Inc. (NYSE:AIT) acquired Advanced Control Solutions LLC on October 5, 2020.
Applied Industrial Technologies, Inc. (NYSE:AIT) completed the acquisition of Advanced Control Solutions LLC for $17.9 million on October 5, 2020. Applied Industrial Technologies funded this acquisition using available cash.
Applied Industrial Technologies, Inc. is a value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies. The Companyâs segments include Service Center Based Distribution and Engineered Solutions. The Service Center Based Distribution segment operates through local service centers and distribution centers with a focus on providing products and services addressing the maintenance and repair of motion control infrastructure and production equipment. Its products include industrial bearings, motors, belting, drives, couplings, pumps, linear motion products, hydraulic and pneumatic components, filtration supplies, and hoses. The Engineered Solutions segment includes its operations that specialize in distributing, engineering, designing, integrating, and repairing hydraulic and pneumatic fluid power technologies, and engineered flow control products and services.
APPLIED INDUSTRIAL TECHNOLOGIES, INC. 
