M&A: APPLIED INDUSTRIAL TECHNOLOGIES INC

Form Type: 8-K

Filing Date: 2025-01-02

Corporate Action: Acquisition

Type: New

Accession Number: 000010956325000003

Comments: On December 31, 2024, Applied Industrial Technologies, Inc. completed its acquisition of Hydradyne, LLC for approximately $273 million, funded with cash on hand. The acquisition followed the terms outlined in a Securities Purchase Agreement involving Applied, LOR, Inc., and Hydradyne. A press release regarding this acquisition was issued on January 2, 2025, and is included as an exhibit to the Form 8-K. The acquisition is anticipated to enhance Applied's market presence, subject to customary post-closing adjustments for cash, indebtedness, transaction expenses, and working capital. The company did not indicate any emerging growth company status nor utilize the extended transition period for new accounting standards in the filing.

Document Link: View Document