Applied Industrial Technologies, Cleveland, OH, has agreed to buy Fluid Power Resource, LLC, businesses.
The 19-location acquisition includes distributors Bay Advanced Technologies, Carolina Fluid Components, DTS Fluid Power, FluidTech, Hughes HiTech, Hydro Air, and Power Systems. The businesses together employ 455 people and had 2007 sales of $244 million.
The purchase price is $169 million in cash.
Each of the businesses will operate as a subsidiary of Applied and will maintain their current local identities. The companies will be led by Warren E. (Bud) Hoffner, who oversees Applied’s fluid power business unit. FPR companies distribute pumps, motors, valves, actuators, cylinders, manifolds, hose fittings, connectors, FRL’s, gear boxes, …
Applied Industrial Agrees to Buy Fluid Power Resource Businesses for $169M
Applied Industrial Technologies, Cleveland, OH, has agreed to buy Fluid Power Resource, LLC, businesses.
The 19-location acquisition includes distributors Bay Advanced Technologies, Carolina Fluid Components, DTS Fluid Power, FluidTech, Hughes HiTech, Hydro Air, and Power Systems. The businesses together employ 455 people and had 2007 sales of $244 million.
The purchase price is $169 million in cash.
Each of the businesses will operate as a subsidiary of Applied and will maintain their current local identities. The companies will be led by Warren E. (Bud) Hoffner, who oversees Applied’s fluid power business unit. FPR companies distribute pumps, motors, valves, actuators, cylinders, manifolds, hose fittings, connectors, FRL’s, gear boxes, …
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