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Applied Industrial Technologies Acquires Bearing Distributors And Cangro Industries

Sep 05, 2023•over 2 years ago

Acquiring Company

Applied

Acquired Company

Bearing Distributors

LondonHuman Resources

Description

Applied Industrial Technologies (NYSE: AIT) today announced the acquisition of both Bearing Distributors, Inc. (Bearing Distributors) and Cangro Industries, Inc. (Cangro), providers of bearings, power transmission, industrial motion, and related service and repair capabilities. Bearing Distributors is based in Columbia, South Carolina, while Cangro is based in Long Island, New York. Terms of the transactions were not disclosed.

Company Information

Company

Applied

Location

London, England, United Kingdom

About

Purpose-built to make hiring empirical and ethical, the Applied platform uses anonymised applications and skill-based assessments to find talent that would otherwise have been overlooked. It’s time to transform how you hire, for good.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed