Applied Industrial Technologies acquires Minnesota Bearing Company
Cleveland, OH -- Applied Industrial Technologies (AIT) has acquired Minnesota Bearing Company, a distributor of bea...
Cleveland, OH — Applied Industrial Technologies (AIT) has acquired Minnesota Bearing Company, a distributor of bearings, power transmission and related specialty products headquartered in Minneapolis, Minn.
Applied acquired all divisions of Minnesota Bearing, which include Iowa Bearing Company, Western Bearing & Supply Company, and Nebraska Bearing Company, as well as Air-Hydraulic Systems, Inc., a full-service provider of hydraulic and pneumatic components and systems.
Founded in 1936, Minnesota Bearing operates nine locations throughout the Upper Midwest, including Minnesota, Iowa, Nebraska, North Dakota and Wisconsin. Annual sales for the company are approximately $35 million.
“The strength of Minnesota Bearing, together with the expertise of Air- Hydraulic Systems, provide a good fit with Applied in terms of both product and service capabilities,” said Todd Barlett, Applied’s vice president- acquisitions and global business development.
In Canada, Applied Industrial Technologies Ltd. of Saskatoon, Sask., a wholly owned subsidiary of Applied Industrial Technologies, operates 57 facilities throughout five provinces. The company operates under the names Bearing & Transmission, B & T Rubber, HyPower Systems, Industrial Equipment Co. Ltd. (IECO) and Groupe GLM.