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Slide #96. Applied Industrial Technologies — Texas Oilpatch Services Corporation
Applied Industrial Technologies (NYSE:AIT)
Texas Oilpatch Services Corporation
Applied Industrial Technologies (NYSE: AIT) today announced it has acquired Texas Oilpatch Services Corporation (TOPS) of Houston, Texas. TOPS is a distributor of bearings, oil seals, power transmission products, and related replacement parts to the oilfield industry. While the terms of the sale were not disclosed, the transaction will be accretive in the current fiscal year.
Applied Industrial Technologies is a distributor of bearings, power transmission products, fluid power components and systems, specialty flow control solutions, and other industrial supplies, operating in North America, Australia, New Zealand, and Singapore. In addition, Co. provides engineering, design, and systems integration for industrial, fluid power, and flow control applications, as well as customized mechanical, fabricated rubber, fluid power, and flow control shop services. Co. has two reportable segments: service center based distribution; and fluid power and flow control.
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