Applied Industrial Technologies to acquire Hydradyne, terms undisclosed

Applied Industrial Technologies (AIT) announced it has signed a definitive agreement to acquire Hydradyne, a provider of fluid power solutions and value-added services. Based in Dallas, Texas, Hydradyne is one of the largest U.S. distributors focused on fluid power and motion control systems with advanced service capabilities and product offerings in hydraulics, pneumatics, electromechanical, instrumentation, filtration, and fluid conveyance. The company’s team of nearly 500 associates operate out of 33 locations across the Southeastern U.S. with specialization in fluid power system design, fabrication, assembly, installation, repair and component support. Applied expects the acquisition to contribute approximately $260M in sales and $30M in EBITDA before anticipated synergies, as well as be accretive to EPS, within the first 12 months of ownership prior to transaction-related expenses and the impact of purchase accounting adjustments.