Genesis Capital is pleased to announce it advised Hydradyne, LLC, a premier provider of fluid power solutions and value-added services, on its acquisition by Applied Industrial Technologies (NYSE: AIT).
Hydradyne is one of the largest U.S. distributors focused on fluid power and motion control systems with advanced service capabilities and product offerings in hydraulics, pneumatics, electromechanical, instrumentation, filtration, and fluid conveyance. The company’s team of nearly 500 associates operate out of 33 locations across the Southeastern U.S. with specialization in fluid power system design, fabrication, assembly, installation, repair and component support. Hydradyne’s products and solutions are integral to powering and controlling critical stationary and mobile equipment across a balanced mix of MRO and OEM applications in key industrial, commercial, and emerging growth verticals.
Lon Jennings, President of Hydradyne, said, “Joining Applied will accelerate our potential by leveraging complementary capabilities, innovative fluid power solutions, and a leading technical industry position as a mutual team. During our evaluation, it was clear Applied is the best strategic fit for our employees, customers, and suppliers. They are a values-based company with significant financial strength and over 100 years of distribution leadership, while their strategy, culture, and solutions-focused approach to the market aligns extremely well. I am grateful for the contributions the Hydradyne team has made through the years and look forward to our success as part of Applied.”
Neil A. Schrimsher, President & Chief Executive Officer for Applied, commented, “We are excited to announce the completion of this acquisition and officially welcome Hydradyne to the Applied team. This transaction will enhance our leading fluid power distribution position in the U.S. by leveraging complementary technical capabilities and innovative engineered solutions across legacy and emerging end markets. Combined with various secular tailwinds and expanding customer service requirements developing across the industry, we see notable growth and operational momentum building from this transaction moving forward. Overall, our teams are engaged and ready to fully capture these opportunities as we progress toward our next financial objectives and long-term value creation potential.
About Applied ®
Applied Industrial Technologies is a leading value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies. Our leading brands, specialized services, and comprehensive knowledge serve MRO (maintenance, repair, and operations) and OEM (original equipment manufacturing), and new system install applications in virtually all industrial markets through our multi-channel capabilities that provide choice, convenience, and expertise.
About Hydradyne
Hydradyne, an ISO 9001:2015 & ISO 14001:2015 certified company, is one of the largest motion control distribution companies and the number one largest Parker distributor in North America, offering an extensive inventory of hydraulic, pneumatic, and electromechanical products. Hydradyne also distinguishes itself in the market by providing custom inventory solutions, on-site and in-house service and repair, and a preventative maintenance program.