Consolidation in distribution continues as AIT acquires Spcialits Industrielles Harvey
Quebec City, QC - Applied Industrial Technologies, Cleveland, OH, today acquired the business of Spécialités Industrielles Harvey, headquartered in Quebec City, QC. Terms of the sale were not disclosed.
Quebec City, QC – Applied Industrial Technologies, Cleveland, OH, today acquired the business of Spécialités Industrielles Harvey, headquartered in Quebec City, QC. Terms of the sale were not disclosed.
Spécialités Industrielles Harvey distributes bearings and power transmission products, plus hydraulic, pneumatic and electrical components from two locations serving the Quebec City and Beauce markets. Customers include industrial, OEM, commercial, construction, food and government businesses.
The current management team of Steve Harvey and Carl Harvey will continue with the organization under the leadership of Mike Allen, vice-president for the Eastern Canadian operations of Applied. The business will continue to run under its current operating name.
“We’re proud to continue our growth in the industrial market of Quebec with such a strong partner as Spécialités Industrielles Harvey,” said Todd A. Barlett, vice-president – Acquisitions and Global Business Development for Applied. “The addition allows us to penetrate the second largest industrial market in Quebec and provides opportunities for additional growth.”
“Our customers will benefit from increased depth of service and expanded product availability while continuing to work with a familiar sales and management team,” said Steve Harvey.
With approximately 480 facilities and 4,700 employee associates across North America, Applied Industrial Technologies is an industrial distributor that offers more than foour million parts critical to the operations of MRO and OEM customers in virtually every industry. In addition, Applied provides engineering, design and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber and fluid power shop services. Applied also offers maintenance training, plus solutions to meet inventory and storeroom management needs that help provide enhanced value to its customers. For its fiscal year ended June 30, 2011, Applied posted sales of $2.2 billion. Applied can be found on the Internet at http://www.applied.com.