CLEVELAND, Jan. 05, 2016 (GLOBE NEWSWIRE) -- Applied Industrial Technologies (NYSE:AIT) today announced it has acquired HUB Industrial Supply (“HUB”), a distributor of consumable industrial products. Terms of the sale were not disclosed.
“HUB Industrial Supply is an excellent strategic fit that further strengthens and diversifies our Applied Maintenance Supplies & Solutions (Applied MSS℠) business,” said Neil A. Schrimsher, President & Chief Executive Officer for Applied®. “HUB is highly effective in utilizing
e-commerce, target marketing and service to penetrate vertical markets. Overall, our collective customer focus and growth initiatives are well aligned.”
Founded in 1990, HUB and its team of 52 associates operate from three locations – Lake City, FL; Indianapolis, IN; and Las Vegas, NV. The company’s extensive product portfolio includes saw blades and cutting tools, fasteners, abrasive products, safety supplies, paints and related general industrial items. The company will operate as a subsidiary of Applied MSS under the name HUB Industrial Supply, LLC.
Todd A. Barlett, Applied’s Vice President – Acquisitions and Global Business Development, added, “We are happy to welcome the HUB team and look forward to working together for continued success with new and existing customers.”
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 firstname.lastname@example.org.
Source:Applied Industrial Technologies, Inc