Applied Industrial Technologies to acquire Hydradyne.

Applied Industrial Technologies, a distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies, agreed to acquire Hydradyne, a provider of fluid power solutions and value-added services. Financial terms were not disclosed. “We are pleased to announce the pending acquisition of Hydradyne, which represents another key step in the expansion of our Engineered Solutions segment and leading technical industry position. We have always admired Hydradyne’s team and market approach. Their technical capabilities, local customer-centric culture, and operational caliber aligns extremely well with our strategy and long-term objectives. Overall, this transaction creates notable long-term value for all stakeholders, and we look forward to welcoming the Hydradyne team to Applied,” Neil A. Schrimsher, Applied President and CEO.