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In The News:

Applied Industrial Technologies Acquires Texas Oilpatch Services

Applied Industrial Technologies (NYSE: AIT), Cleveland, OH, has acquired Texas Oilpatch Services Corp. (TOPS) of Houston. TOPS is a distributor of bearings, oil seals, power transmission products and related replacement parts to the oilfield industry. Terms were not disclosed.

Todd Barlett, Applied's vice president - acquisitions and global business development, said TOPS's associates will make an ideal fit with Applied's business strategy and growth plans.

With more than 500 facilities and 5,000 employee associates, Applied Industrial Technologies is an industrial distributor that offers more than five million parts for MRO and OEM customers in many industries. 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.

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