CLEVELAND — Applied Industrial Technologies announced Thursday that it completed its acquisition of Hydradyne LLC on Dec. 31.
Based in Dallas, with locations across the southeastern U.S., Hydradyne is a premier provider of fluid power solutions with advanced service capabilities and product offerings in hydraulics, pneumatics, electromechanical, instrumentation, filtration, and fluid conveyance.
Neil A. Schrimsher, president and chief executive officer of Applied, said,
“We are excited to announce the completion of this acquisition and officially welcome Hydradyne to the Applied team. This transaction will enhance our leading fluid power distribution position in the U.S. by leveraging complementary technical capabilities and innovative engineered solutions across legacy and emerging end markets. Combined with various secular tailwinds and expanding customer service requirements developing across the industry, we see notable growth and operational momentum building from this transaction moving forward. Overall, our teams are engaged and ready to fully capture these opportunities as we progress toward our next financial objectives and long-term value creation potential."
Applied affirmed that it expects the acquisition will contribute approximately $260 million in sales and $30 million in EBITDA before anticipated synergies, as well as be accretive to EPS, within the first 12 months of ownership prior to transaction-related expenses and the impact of purchase accounting adjustments. Additional financial and operational details, including EPS accretion guidance, will be provided when it reports fiscal 2025 second quarter results later this month.
