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Expands Automation Offering & Geographic Reach
Applied Industrial Technologies (NYSE: AIT) today announced it has acquired Advanced Control Solutions ("ACS"), a provider of automation products, services, and engineered solutions focused on machine vision equipment and software, mobile and collaborative robotic solutions, intelligent sensors, logic controllers, and other related equipment. Terms of the transaction were not disclosed.
"The addition of ACS extends and enhances our automation offering by providing next generation automation solutions through emerging technologies and specialized engineering services," said Neil A. Schrimsher, President & Chief Executive Officer for Applied. "Their strong Southeast presence brings established customer relationships and supplier partnerships, plus an experienced team with valuable capabilities including state-of-the-art automation training and machine vision engineering expertise."
Founded in 1998, ACS and its team of 43 associates serve customers throughout Alabama, Georgia, Mississippi, South Carolina and Tennessee from four locations – Marietta, GA; Spring Hill (Nashville), TN; Knoxville, TN; and Birmingham, AL. The company participates in a variety of end markets common to Applied, namely life sciences, packaging and logistics, industrial manufacturing, and automotive.
Mr. Schrimsher added, "As we’ve previously stated, automation is an expanding vertical for Applied that is further differentiating our value proposition, diversifying our end-market mix, and enhancing our growth profile. ACS represents the next step in this strategic opportunity following our August 2019 acquisition of Olympus Controls. We expect their combined capabilities and supplier alignment to drive near-term sales synergies, as well as cross-selling opportunities tied to our leading technical industry position and embedded customer relationships across industrial end markets. We welcome ACS into our company and look forward to leveraging their innovative technology and capabilities to further accelerate growth and value creation for Applied’s stakeholders."
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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Ryan D. Cieslak
Director – Investor Relations & Treasury
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