Applied Industrial Technologies Acquires HUB Industrial Supply
Enhances Product Offering and Expands Presence of Maintenance Supplies & Solutions℠
CLEVELAND, Jan. 05, 2016 -- Applied Industrial Technologies (NYSE:AIT) today announced it has acquired HUB Industrial Supply (“HUB”), a distributor of consumable industrial products. Terms of the sale were not disclosed.
“HUB Industrial Supply is an excellent strategic fit that further strengthens and diversifies our Applied Maintenance Supplies & Solutions (Applied MSS℠) business,” said Neil A. Schrimsher, President & Chief Executive Officer for Applied®. “HUB is highly effective in utilizing e-commerce, target marketing and service to penetrate vertical markets. Overall, our collective customer focus and growth initiatives are well aligned.”
Founded in 1990, HUB and its team of 52 associates operate from three locations – Lake City, FL; Indianapolis, IN; and Las Vegas, NV. The company’s extensive product portfolio includes saw blades and cutting tools, fasteners, abrasive products, safety supplies, paints and related general industrial items. The company will operate as a subsidiary of Applied MSS under the name HUB Industrial Supply, LLC.
Todd A. Barlett, Applied’s Vice President – Acquisitions and Global Business Development, added, “We are happy to welcome the HUB team and look forward to working together for continued success with new and existing customers.”
About Applied
Founded in 1923, Applied Industrial Technologies is a leading industrial distributor that offers more than five million parts to serve the needs of MRO and OEM customers in virtually every industry. In addition, Applied provides engineering, design and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber and fluid power shop services. Applied also offers maintenance training and inventory management solutions that provide added value to its customers. For more information, visit www.applied.com.
From the Desk of Gabriel Curry, General Manager – HUB Industrial Supply
As an addition to the Applied Maintenance Supplies & Solutions℠ division of Applied Industrial Technologies, HUB gains access to more than 47,000 MRO consumables, including additional hardware, paints and chemicals, cutting tools and abrasives, safety, janitorial, electrical, pipes, valves and fittings, transportation, and shop supplies.
For our customers, that means we have more products and resources to help you succeed, as well as expanded opportunities to help you manage your inventory.
We are excited about the new opportunities this change will bring to us – and to you, our boss! If you have any questions or comments, please do not hesitate to contact us at: 800.743.9401
