Applied Industrial Technologies Acquires R.R. Floody Company
19 August 2021 - 2:00PM
Business Wire
Continuing Expansion of Automation Offering
Applied Industrial Technologies (NYSE: AIT) today announced it
has acquired R.R. Floody Company, Inc. (“Floody”), a provider of
automation products, services, and engineered solutions focused on
machine vision, mobile and collaborative robotics, motion control,
material handling, and digital capabilities. Terms of the
transaction were not disclosed.
Neil A. Schrimsher, President & Chief Executive Officer for
Applied, commented, “We are pleased to announce the addition of the
R.R. Floody Company, which further enhances our growing automation
offering focused on next generation technologies. Floody has a
strong presence across the U.S. Midwest market, and brings valuable
and innovative capabilities in advanced facility automation with a
focus on machine vision. Floody’s engineered solutions and
technical expertise align with our overall strategy, and provide
further momentum to our scaling automation position into early
fiscal 2022. We welcome Floody to Applied and look forward to their
contributions going forward.”
Based in Rockford, IL, Floody’s team of 18 associates operates
from one location and serves customers primarily across consumer
packaging, food and beverage, pharmaceutical, medical technology,
and general industrial industries.
About Applied® Applied Industrial Technologies is a
leading value-added distributor and technical solutions provider of
industrial motion, fluid power, flow control, automation
technologies, and related maintenance supplies. Our leading brands,
specialized services, and comprehensive knowledge serve MRO and OEM
end users in virtually all industrial markets through our
multi-channel capabilities that provide choice, convenience, and
expertise. For more information, visit www.applied.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210819005228/en/
Ryan D. Cieslak Director – Investor Relations & Treasury
216-426-4887 / rcieslak@applied.com
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