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Applied Industrial Technologies Acquires Texas Oilpatch Services, Terms Not Disclosed

Applied Industrial Technologies (NYSE: AIT) today announced it has acquired Texas Oilpatch Services Corporation (TOPS) of Houston, Texas.  TOPS is a distributor of bearings, oil seals, power transmission products, and related replacement parts to the oilfield industry. While the terms of the sale were not disclosed, the transaction will be accretive in the current fiscal year.

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Posted-In: News Guidance Contracts Asset Sales Management M&A Global


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