CLEVELAND -- Applied Industrial Technologies on Wednesday announced the acquisition of Automation Inc., a provider of automation products, services and engineered solutions focused on machine vision, collaborative and mobile robotics, motion control, intelligent sensors, pneumatics, and other related products and solutions.
Terms of the transaction were not disclosed.
“Today’s announcement represents another key step in the continued expansion of our next generation automation offering," said Applied President and CEO Neil Schrimsher. "Automation Inc. is a leading provider of emerging automation technologies across the U.S. Upper Midwest with advanced capabilities in machine vision, pneumatic automation, and value-added assembly services and engineered solutions. They bring established customer and supplier relationships, along with an experienced team highly regarded for their technical and application expertise that aligns with our growth strategy, market focus and value proposition.”
Automation Inc. is based in Minneapolis and operates with a team of more than 50 associates from one location. The company serves customers primarily across pharmaceutical, manufacturing, life sciences, consumer products and other industries.
“Our automation platform is gaining notable traction within our served markets. Secular demand tailwinds are building as customers manage through structural labor constraints and evolving production considerations to support long-term growth and supply chain initiatives. We are well positioned to capitalize on this opportunity given our application and engineering expertise, as well as accelerated adoption of advanced technologies aligned with our product focus including collaborative and mobile robots, machine vision, and digital solutions," Schrimsher said. "The addition of Automation Inc. will further optimize this position, including expanding our footprint across key verticals and geographies, while supplementing our value-added services and cross-selling efforts. Overall, we see significant potential and synergies building across our automation platform that stand to enhance our growth and earnings potential long term. We welcome Automation Inc. to Applied, and look forward to leveraging their capabilities going forward.”