Applied Industrial Technologies is continuing its investment in the automation industry, announcing Nov. 2 its acquisition of Minneapolis-based Automation Inc. Financial terms of the transaction were not disclosed. Applied ranked as the No. 2 Power Transmission/Bearings Distributor and No. 13 Industrial Distributor in Modern Distribution Management’s 2022 Top Distributor list.
Founded in 1981, Automation Inc. is a distributor of motion, machine vision, pneumatic, electrical, process control and machine components. The company serves customers across pharmaceutical, manufacturing, consumer products and other various industrial industries.
Long known as strictly an MRO products distributor, Cleveland-based Applied has focused on bolstering its automation portfolio since 2019. Its automation acquisitions include Olympus Controls Corp. in August 2019; Advanced Control Solutions in October 2020; R.R. Floody in August 2021; and Gibson Engineering Company in January 2021.
“Our automation platform is gaining notable traction within our served markets,” Applied President and CEO Neil Schrimsher said. “The addition of Automation, Inc. will further optimize this position, including expanding our footprint across key verticals and geographies, while supplementing our value-added services and cross-selling efforts. Overall, we see significant potential and synergies building across our automation platform that stand to enhance our growth and earnings potential long term.”