CLEVELAND, Oct. 2, 2015 (GLOBE NEWSWIRE) -- Applied Industrial Technologies (NYSE:AIT) today announced it has acquired S. G. Morris Co. (SGM), a distributor of fluid power components and provider of engineered fluid power systems. Terms of the sale were not disclosed.
"SGM represents a strong strategic fit and further enhances our fluid power market leadership," said Neil A. Schrimsher, President & Chief Executive Officer for Applied®. "In addition to providing customers the best components for their application, SGM is a leader in the design and integration of fluid power, motion control and lubrication solutions, which further strengthens our value-add."
Founded in 1932, SGM has a team of 68 employees serving Industrial and Mobile customers from three locations – Cleveland and Toledo, Ohio, and Pittsburgh, Pennsylvania. SGM's full suite of services – from selection of components to installation, startup and training – provides a one-stop-shop for all fluid power solutions. The company will operate as a subsidiary of Applied under the name S. G. Morris Co., LLC.
Todd A. Barlett, Applied's Vice President – Acquisitions and Global Business Development, added, "We are pleased to add the talents and expertise of SGM to our experienced group of fluid power subsidiaries. Their portfolio of products and services, and their ability to solve unique and complex customer needs, provides us many additional growth opportunities."
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.
CONTACT: For more information, contact Julie Kho, Applied Industrial Technologies, 1 Applied Plaza, Cleveland, OH 44115-5020, ph. 216-426-4483, e-mail firstname.lastname@example.org.
Source:Applied Industrial Technologies