Applied Industrial Technologies Acquires R.R. Floody Company For Undisclosed Sum

Applied Industrial Technologies Inc (NYSE:AIT) has acquired R.R. Floody Company, Inc (Floody) for undisclosed financial terms.
Rockford, IL-based Floody provides automation products, services, and engineered solutions focused on machine vision, mobile and collaborative robotics, motion control, material handling, and digital capabilities.
Applied Industrial noted Floody has a strong presence across the U.S. Midwest market.
Floody’s team of 18 associates operates from one location and serves customers primarily across consumer packaging, food and beverage, pharmaceutical, medical technology, and general industrial industries.
Applied Industrial held cash and cash equivalents of $257.75 million as of June 30, 2021.
Price Action: AIT shares are trading lower by 0.44% at $87.92 on the last check Thursday.