Industrial distributor Applied Industrial Technologies (NYSE: AIT), Cleveland, Ohio, has agreed to acquire Olympus Controls Corp., an automation solutions provider – including design, assembly, integration, and distribution – of motion control, machine vision and robotic technologies. Terms of the transaction were not disclosed.
The transaction is expected to close before the end of August 2019. The business will continue to operate under the Olympus Controls name.
“Olympus brings to Applied a full range of value-added automation expertise, with leading technology solutions, an established geographic footprint, and strong supplier partnerships,” said Neil A. Schrimsher, president and CEO for Applied. “Their addition is a strong complement to our business, further broadening our capabilities, customer opportunities and technical presence across varied industrial segments.”
Olympus serves customers throughout the Pacific Northwest, West Coast and Lower Central States from five locations in Tualatin, Oregon; Kent, Washington; Fremont, California; San Diego; and Lake Dallas, Texas.