Applied Industrial Technologies completed the acquisition of Bearing Distributors and Cangro Industries.

Applied Industrial Technologies, a value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies, completed the acquisition of Bearing Distributors and Cangro Industries, providers of bearings, power transmission, industrial motion, and related service and repair capabilities. Financial terms were not disclosed. “We welcome Bearing Distributors and Cangro to Applied’s US Service Center network as we continue to bolster our local presence and provide our customers with leading technical support. We have meaningfully enhanced our Service Center operations in recent years through strategic process improvements, systems investments, and talent additions. At the same time, the long-term demand outlook in our core Service Center network has never been stronger, reflecting emerging secular tailwinds around reshoring, customer capex investments, and technical supply chain requirements, as well as share gain opportunities tied to our service capabilities and cross-selling potential. Both Companies will immediately strengthen our position to fully leverage these tailwinds now and in the coming years.” Neil A. Schrimsher, Applied President & Chief Executive Officer.