Applied Industrial Technologies Acquires Automation, Inc.
Summary
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. 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. 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.