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Headquarters: Cleveland, OH
2015 Revenues: $2.6 billion
Change in Sales from 2014: -2.2%
2015 Acquisitions: Atlantic Fasteners; S. G. Morris Co.
Key Executives: Neil Schrimsher, president & CEO; Mark Eisele, vice president, CFO & treasurer; Thomas Armold, vice president, sales; Todd Barlett, vice president, acquisitions & global business development; Fred Bauer, vice president, general counsel & secretary; Kurt Loring, vice president, chief human resources officer; Jody Chabowski, assistant controller; Shaun McElhannon, assistant treasurer
While the fiscal year, which ended June 30, saw a significant increase in sales year-over-year (nearly 12 percent), on a calendar year basis, the company reported a decline of about 2 percent. Applied Industrial Technologies fiscal 2015 results were negatively impacted by deceleration in industrial demand, headwinds from energy markets and the unfavorable impact of foreign currency translation, according to President and CEO Neil Schrimsher.
The company is looking to strategic acquisitions in adjacent geographies and product markets to spark growth going forward. Headcount fell by 274 in calendar year 2015.
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