The 2020 Mid-Year Economic Update_long

Applied Industrial Acquires Reliance Industrial Products

Acquisition helps Applied expand oil and gas offerings.

Industrial distributor Applied Industrial Technologies, Cleveland, OH, has acquired Canada-based Reliance Industrial Products. Reliance offers design and manufacturing, hydraulic and mechanical repair, and oilfield, hydraulic and safety products.

“The addition of Reliance significantly enhances our capabilities to serve the oil and gas markets in the United States and Canada and creates new opportunities for synergies across our businesses," said Neil Schrimsher, president & CEO of Applied. "Combined with our Texas oilpatch services operation in Houston, we have a strong foundation for growth in the areas of fluid conveyance and oilfield supplies.”

Reliance primarily serves the oil and gas industry in Western Canada and the U.S. with some exposure to transportation, mining and construction. The business operates from 15 locations: 10 in Western Canada and five in the U.S. within Texas, North Dakota, Colorado and Louisiana.

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