Cleveland, OH (August 2, 2010) - Applied Industrial Technologies (NYSE: AIT) today announced it has acquired the assets of UZ Engineered Products of Cleveland, Ohio. UZ is a distributor of high-quality products for maintenance, repair and operational needs. The business was acquired from State Industrial Products Corporation, also located in Cleveland. Terms of the sale were not disclosed.
"UZ is an important addition to our government business sector," said Todd A. Barlett, Vice President - Acquisitions and Global Business Development for Applied. "Their product mix, experience and geographic coverage will enhance our existing support for this important market and help us expand our reach across North America. We're very pleased to welcome their employees to the Applied family."
David DeBord, currently President of UZ Engineered Products, will continue to serve in that position and will report to Michael L. Coticchia, Vice President of Government Business for Applied. "Government business, including Federal, State, County and Local, is an important growth sector for us," said Mr. Coticchia, "and UZ will definitely help strengthen our position with our many customers. We will now have a significantly expanded sales presence."
Founded in 1982, UZ serves a broad range of MRO customers, primarily in the government sector, throughout the United States and Canada. The company's single Cleveland location, together with its strategically located employees, support industrial, commercial and institutional operations with product lines that include fasteners, fittings, lubricants, electrical components, welding supplies, cutting tools, and other specialty maintenance products. UZ employs more than 170 people and generated 2009 annual sales of approximately $23 million.
"We are proud to join UZ with a company that successfully demonstrates its ability to service government facilities and the needs of industrial customers," said Hal Uhrman, CEO of State Industrial Products. "Applied provides the proper fit for UZ's offerings and capabilities."
With approximately 460 facilities and 4,500 employee associates across North America, Applied Industrial Technologies is an industrial distributor that offers more than 3 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, 2009, Applied posted sales of $1.9 billion. Applied can be visited on the Internet at www.applied.com