{"id":36898,"date":"2012-11-02T11:55:00","date_gmt":"2012-11-02T11:55:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/applied-industrial-technologies-ait-acquires-hyquip-inc\/36898\/"},"modified":"2012-11-02T11:55:00","modified_gmt":"2012-11-02T11:55:00","slug":"applied-industrial-technologies-ait-acquires-hyquip-inc","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/applied-industrial-technologies-ait-acquires-hyquip-inc\/36898\/","title":{"rendered":"Applied Industrial Technologies &#8211; AIT &#8211; Acquires HyQuip, Inc."},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><strong>Applied Industrial Technologies (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=AIT\">NYSE: AIT<\/a>)<\/strong> announced the acquisition of HyQuip, Inc., a distributor of hydraulic, rubber and plastic industrial hose and tubing, plus related accessories.\u00a0 Terms of the sale were not disclosed.<\/p>\n<p>Founded in 1989, HyQuip operates two locations in Waukesha and Butler, Wisconsin, with an employee team of 19.\u00a0 In addition to the products named above, the company produces hose assemblies and custom kits for fluid conveyance applications, and also provides inventory management, stocking programs and other value-added services.\u00a0 The company will operate as a subsidiary of Applied<sup>\u00ae<\/sup> under the name HyQuip, LLC and will report into Applied&#8217;s fluid power business unit led by Warren E. (Bud) Hoffner, Vice President, General Manager \u2013 Fluid Power.<\/p>\n<p>&#8220;The acquisition of HyQuip is consistent with our strategy to build upon and strengthen our fluid power market leadership.\u00a0 We are excited about the growth opportunities and operational synergies we can realize together with HyQuip,&#8221; said Neil A. Schrimsher, Chief Executive Officer for Applied.<\/p>\n<p>&#8220;HyQuip is a strong, established company with a successful track record of focused hose and fittings expertise, and we&#8217;re pleased to have them join Applied,&#8221; said Todd A. Barlett, Vice President \u2013 Acquisitions and Global Business Development for Applied.\u00a0 &#8220;The addition of HyQuip strengthens our fluid power presence in key markets and further enhances our position as a fluid power industry leader.&#8221;<\/p>\n<p>With approximately 500 facilities and 4,900 employee associates, Applied Industrial Technologies is a leading industrial distributor that offers more than four million parts to serve the needs of MRO and OEM customers in virtually every industry.\u00a0 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.\u00a0 Applied also offers maintenance training and inventory management solutions that provide added value to its customers.<\/p>\n<p><strong>About Applied Industrial Technologies &#8211; AIT<\/strong><\/p>\n<p>Applied Industrial Technologies, Inc. (AIT) is an industrial distributor in North America, supplying customers in a range of industries with products, including bearings, power transmission components, fluid power components and systems, industrial rubber products, linear motion components, tools, safety products, and general maintenance and mill supply products. AIT also provides customized fluid power, mechanical, and rubber shop services, as well as storeroom management services and maintenance training. In February 2012, AIT acquired the businesses of Solutions Industrielles Chicoutimi and Specialites Industrielles Harvey. In August 2012, it acquired SKF Group&#8217;s company-owned distribution business in Australia and New Zealand.<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20121103222303\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.2\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fapplied-industrial-technologies-ait-acquires-hyquip-inc%2F36898&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/priceline-reports-27-percent-jump-in-fiscal-q3-earnings-provides-upbeat-outlook\/36937\">\nPriceline Reports 27 Percent Jump in Fiscal Q3 Earnings, Provides Upbeat Outlook<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-tumble-6\/36936\">\nGold Prices Tumble<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-fall-sharply-despite-strong-jobs-report\/36918\">\nStocks Fall Sharply Despite Strong Jobs Report<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-fall-sharply-silver-prices-also-tumble-3\/36917\">\nGold Prices Fall Sharply; Silver Prices also Tumble<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-extend-losses-in-late-trading-4\/36915\">\nStocks Extend Losses in Late Trading<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-turn-lower-in-mid-day-trading-3\/36911\">\nStocks Turn Lower in Mid-Day Trading<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/curtiss-wright-cw-will-acquire-williams-controls-wmco\/36899\">\nCurtiss-Wright &#8211; CW &#8211; Will acquire Williams Controls &#8211; WMCO<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20121103222303im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\nEd Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n<script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script>\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Applied Industrial Technologies (NYSE: AIT) announced the acquisition of HyQuip, Inc., a distributor of hydraulic, rubber and plastic industrial hose [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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