08:28 AM EST, 11/22/2024 (MT Newswires) -- Applied Industrial Technologies ( AIT ) said Friday that it has agreed to acquire Hydradyne, a Texas-based provider of fluid power solutions.

Financial terms of the deal were not disclosed.

Applied Industrial Technologies ( AIT ) said it expects the acquisition to contribute $260 million in sales and be accretive to earnings per share within the first 12 months of ownership.

Applied said the acquisition will increase its presence in the US southeast and diversify its business model.

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