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Applied Industrial Technologies (NYSE: AIT), Cleveland, OH, has acquired Gulf Coast Bearing & Supply Co. of Corpus Christi, TX. Gulf Coast Bearing & Supply is a full-line bearing and power transmission distributor with locations in Corpus Christi and Pharr, TX.
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Founded in 1985, Gulf Coast Bearing & Supply serves customers in South Texas, primarily in the petrochemical, food processing, construction and agriculture industries. Both existing locations will become Applied service centers with access to more than 4 million parts.
"Gulf Coast Bearing & Supply is one of the leading independent bearing and power transmission distributors in its territory and will be an important addition to the North American network of Applied Industrial Technologies service centers," says Todd A. Barlett, Vice President - Acquisitions and Global Business Development for Applied. "The acquisition is a win-win for the customers of both companies as we expand our product offering and technical support into this region."
For its fiscal year ended June 30, 2010, Applied posted sales of $1.89 billion.