13. Applied Industrial Technologies - Top Industrial Distributors
Headquarters: Cleveland, OH
2017 revenue: $2,593,746,000
16:17 Change: 2.95%
2016 Revenue: $2,519,428,000
Key Executives: Neil A. Schrimsher, President & CEO; David Wells, VP - CFO & Treasurer
“We are pleased with the positive strides we made throughout fiscal 2017…. Our results for the year reflect the benefits from serving our customers’ operating needs, driving continuous improvements and enhancing our technical value-added capabilities,” president and CEO Neil Schrimsher said.
A distributor of power transmission products, fluid power, bearings, specialty flow control solutions, and other industrial supplies, acquisitions have been part of Applied’s strategy.
In 2017, they acquired Sentinel Fluid Controls, a distributor of hydraulic and lubrication components. And in early 2018, Applied finalized its acquisition of FCX Performance, Inc.
The sales product mix for fiscal 2017 was 71.5 percent industrial products and 28.5 percent fluid power products compared to 72.9 percent industrial and 27.1 percent fluid power in the prior year.
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