Applied Industrial Technologies has acquired distributors in New Jersey and Ohio, the company announced Thursday.
Total Machine Solutions will join Applied’s U.S. service center division, while Stanley Proctor will be incorporated into its fluid power business.
TMS, based in Fairfield, New Jersey, is a distributor of bearings, drives, motors, conveyor components and other electrical and mechanical power transmission products, along with repair services. Stanley Proctor, located in Twinsburg, Ohio — near Applied’s Cleveland headquarters — distributes hydraulics, pneumatics, fluid power engineered systems, and control, measurement and instrumentation components.
Applied expects the companies to contribute an additional $17 million to its sales in the first year. Additional details, including financial terms, were not disclosed.
Applied President and CEO Neil Schrimsher said that TMS would bolster its Northeast footprint — particularly in the food and beverage market — while Stanley Proctor would provide hydraulic power unit design and assembly.
“Both companies bring strong technical knowledge, service capabilities and aligned supplier relationships in their regional markets that will enhance our competitive position,” Schrimsher said in a statement.
Applied, no. 8 on ID’s 2023 Big 50, disclosed the additions in its fourth-quarter earnings release. The company posted a slight increase in quarterly sales year-over-year and a 1.5% jump in full-year revenue; officials expect its current fiscal year sales to come in between 2.5% below and 2.5% above the most recent year.
