Applied Industrial Technologies on December 8 announced it has acquired the assets of Cincinnati Transmission Company, a single-location, regional distributor of power transmission and motion control products as well as gearbox repair solutions located in Cincinnati. Terms of the sale were not disclosed.
Founded in 1947, Cincinnati Transmission serves a broad range of customers, primarily OEMs, with bearings, V-belts, drives, electric motors, clutches and conveying equipment.
"We're pleased to strengthen our presence in the greater Cincinnati / northern Kentucky area with the addition of Cincinnati Transmission," said Todd A. Barlett, vice president of acquisitions and global business development for Applied. "Cincinnati Transmission's 50 years of experience and technical expertise will provide a strategic complement to Applied's existing capabilities and support opportunities for additional growth."
"As a part of Applied, we will be able to offer a greater assortment of products, services and resources to better assist our customers," said H. Richard "Dick" Herrick, owner of Cincinnati Transmission. "We are proud our company is joining the Applied corporate family."
With more than 475 facilities and 5,200 employee-associates across North America, Applied Industrial Technologies is an industrial distributor that offers more than 3 million parts critical to the operations 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. For its fiscal year ended June 30, 2008, Applied posted sales of $2.1 billion.
