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Applied Industrial Technologies Acquires Atlantic Fasteners

CLEVELAND, Aug. 4, 2015 (GLOBE NEWSWIRE) -- Applied Industrial Technologies (NYSE:AIT) today announced it has acquired Atlantic Fasteners, a distributor of C-Class consumables located in Agawam, MA. Terms of the sale were not disclosed.

"Atlantic Fasteners provides the market presence, products and capabilities to further enhance our Applied Maintenance Supplies & Solutions (Applied MSS℠) offering to a broad array of industrial customers," said Neil A. Schrimsher, President & Chief Executive Officer for Applied®. "They are an ideal fit with our business strategy and growth plans."

Founded in 1981, Atlantic Fasteners and its 48 associates serve the New England region with industrial fasteners and related industrial supplies. The company also specializes in vendor managed inventory systems.

Todd A. Barlett, Applied's Vice President – Acquisitions and Global Business Development, added, "We are pleased to welcome Atlantic Fasteners to Applied and are excited about the opportunities and success we can realize together."

About Applied

Founded in 1923, Applied Industrial Technologies is a leading industrial distributor that offers more than five million parts to serve the needs of MRO and OEM customers in virtually every industry. In addition, Applied provides engineering, design and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber and fluid power shop services. Applied also offers maintenance training and inventory management solutions that provide added value to its customers. For more information, visit www.applied.com.

For more information, contact Julie Kho, Applied Industrial Technologies, 1 Applied Plaza, Cleveland, OH 44115-5020, ph. 216-426-4483, e-mail jkho@applied.com.

Source:Applied Industrial Technologies