Cleveland, OH – Applied Industrial Technologies announced it has acquired Reliance Industrial Products (Reliance) of Nisku, Alberta, Canada – a leading supplier to the upstream oil and gas industry.
Reliance was founded in 1993 as a specialty hose and fitting supplier to serve the unique needs of the oilfield drilling industry. The business has expanded to offer a full range of products and services including design and manufacturing, hydraulic and mechanical repair, and oilfield, hydraulic and safety products.
Reliance primarily serves the oil and gas industry in Western Canada and the United States with some exposure to transportation, mining and construction. The business operates from 15 locations – ten in Western Canada and five in the United States within Texas, North Dakota, Colorado and Louisiana.
“The addition of Reliance significantly enhances our capabilities to serve the oil and gas markets in the United States and Canada and creates new opportunities for synergies across our businesses. Combined with our Texas Oilpatch Services (TOPS) operation in Houston, we have a strong foundation for growth in the areas of Fluid Conveyance and Oilfield Supplies,” said Neil A. Schrimsher, President & Chief Executive Officer for Applied.
Todd A. Barlett, Applied’s Vice President – Acquisitions and Global Business Development, added, “We are very pleased to add Reliance to our Company. With its large footprint in leading oil and gas markets, Reliance appreciably strengthens our energy capabilities in North America.”