Applied Industrial Technologies to Acquire Olympus Controls Corp.

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CLEVELAND–(BUSINESS WIRE)–Applied Industrial Technologies (NYSE: AIT) today announced it has signed a definitive agreement to acquire Olympus Controls Corp. (“Olympus”), an automation solutions provider – including design, assembly, integration, and distribution – of motion control, machine vision, and robotic technologies. The transaction is expected to close before the end of August 2019.

“Olympus brings to Applied a full range of value-added automation expertise, with leading technology solutions, an established geographic footprint, and strong supplier partnerships,” said Neil A. Schrimsher, President & Chief Executive Officer for Applied. “Their addition is a strong complement to our business, further broadening our capabilities, customer opportunities and technical presence across varied industrial segments.”

Founded in 1998, Olympus and its team of 80+ employees serve customers throughout the Pacific Northwest, West Coast and Lower Central States from five locations in Tualatin, OR; Kent, WA; Fremont, CA; San Diego, CA; and Lake Dallas, TX. From components and

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