Applied Industrial Technologies of Cleveland said it has acquired Advanced Control Solutions, a Georgia-based provider of automation products and services for machine vision equipment and software, mobile and collaborative robotic systems, intelligent sensors, logic controllers and related equipment.
Terms of the deal, which was announced in a news release on Oct. 7, were not disclosed.
Applied Industrial is a distributor of industrial motion, fluid power, flow control, automation technologies and related maintenance supplies.
Neil A. Schrimsher, president and CEO of Applied Industrial, said in a statement that the addition of Advanced Control Solutions "extends and enhances our automation offering by providing next generation automation solutions through emerging technologies and specialized engineering services." He said the acquired company's "strong Southeast presence" will bring "established customer relationships and supplier partnerships, plus an experienced team with valuable capabilities including state-of-the-art automation training and machine vision engineering expertise."
Advanced Control Solutions was founded in 1992. It has 43 employees and serves customers in Alabama, Georgia, Mississippi, South Carolina and Tennessee from four locations: its Marietta, Ga., headquarters, as well as Spring Hill, Tenn; Knoxville, Tenn; and Birmingham, Ala.
The company shares several end markets with Applied Industrial, including life sciences, packaging and logistics, industrial manufacturing and automotive.
To put the deal in context, Schrimsher noted that "automation is an expanding vertical for Applied that is further differentiating our value proposition, diversifying our end-market mix, and enhancing our growth profile." He said Advanced Control Solutions "represents the next step in this strategic opportunity" following the company's August 2019 acquisition of Olympus Controls.
Applied Industrial stock closed trading on Oct. 6, at $57.57 per share. The stock's 52-week high is $70.62; the 52-week low is $30.66.