Applied Industrial Technologies to acquire Hydradyne for $272M in cash, accretive to EPS

APPLIED INDUSTRIAL TECHNOLOGIES INC

Deal value $272M; expected close in Q4 2024; funded from cash on hand.
Hydradyne has ~500 employees, 33 locations in SE US, fluid power distributor.
Expected annual sales contribution $260M and EBITDA $30M before synergies.
Acquisition is part of Engineered Solutions segment expansion; expected accretive to EPS within first 12 months.

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