The 2020 Mid-Year Economic Update_long

Applied Industrial Acquires Two Quebec Distributors

Solutions Industrielles Chicoutimi and Specialites Industrielles Harvey will continue to operate under their existing names.

Applied Industrial Technologies (NYSE: AIT), Cleveland, OH, has acquired the businesses of Solutions Industrielles Chicoutimi and Specialites Industrielles Harvey. Terms of the sale were not disclosed.

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Solutions Industrielles Chicoutimi provides bearings, power transmission products and repair services through one location in Chicoutimi, Quebec. The company serves a broad base of customers, including saw mills, food, cement, agriculture, OEMs and machine shops.

Specialites Industrielles Harvey distributes bearings and power transmission products, plus hydraulic, pneumatic and electrical components from two locations serving the Quebec City and Beauce markets. Customers include industrial, OEM, commercial, construction, food and government businesses.

Both businesses will continue to operate under their current brands, and existing management teams will be retained.

\”We’re very pleased to welcome both of these businesses to Applied and extend our reach into key industrial markets in Quebec,\” said Todd A. Barlett, Applied’s vice president – acquisitions and global business development. \”Customers will benefit from increased depth of service and expanded product availability while continuing to work with familiar sales associates and a respected local management team.\”

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