Benzinga | Aug 19, 2021 10:00AM EDT

Applied Industrial Technologies Acquires R.R. Floody Company For Undisclosed Sum

* Applied Industrial Technologies Inc (NYSE:AIT) has acquired R.R. Floody Company, Inc (Floody) for undisclosed financial terms.

* Rockford, IL-based Floody provides automation products, services, and engineered solutions focused on machine vision, mobile and collaborative robotics, motion control, material handling, and digital capabilities.

* Applied Industrial noted Floody has a strong presence across the U.S. Midwest market.

* Floody's team of 18 associates operates from one location and serves customers primarily across consumer packaging, food and beverage, pharmaceutical, medical technology, and general industrial industries.

* Applied Industrial held cash and cash equivalents of $257.75 million as of June 30, 2021.

* Price Action: AIT shares are trading lower by 0.44% at $87.92 on the last check Thursday.