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Industrial M&A image Industrial M&A » By The Online Investor Staff, updated Sat., May. 30, 8:24 PM Recent mergers and acquisitions in the Industrial M&A category.

Slide #96. Applied Industrial Technologies Texas Oilpatch Services Corporation

Acquirer: Applied Industrial Technologies (NYSE:AIT)
Acquiree: Texas Oilpatch Services Corporation
Details: 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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Company Name: 
Applied Industrial Technologies, Inc.
Website: 
www.applied.com
Sector: 
Industrial Machinery & Equipment
Number of ETFs Holding AIT: 
59
Total Market Value Held by ETFs: 
$473.54M
Total Market Capitalization: 
$2.32B
% of Market Cap. Held by ETFs: 
20.39%
 

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Strong Buy (3.50 out of 4)
67th percentile
(ranked higher than approx. 67% of all stocks covered)
Based on Zacks ABR data;
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