CLEVELAND—Applied Industrial Technologies Inc. said it has acquired Texas Oilpatch Services Corp. of Houston.
The Cleveland-based distributor of bearings and industrial parts said Texas Oilpatch is a distributor of bearings, oil seals, power transmission products and related replacement parts to the oilfield industry. While terms of the sale were not disclosed, the transaction will be accretive in the current fiscal year, Applied Industrial said.
"The addition of TOPS enhances our capabilities to serve the oil and gas market by providing added O&G industry expertise and experience," Neil A. Schrimsher, Applied Industrial president and CEO, said in a news release. "Overall, TOPS is an excellent complement to Applied, offering additional opportunities for energy market growth."