Applied Industrial to buy Hydradyne for $272 million in cash
Applied Industrial Technologies agreed on November 21, 2024 to acquire all membership interests of Hydradyne, LLC, a Dallas-based fluid power distributor, from LOR, Inc. for $272 million, subject to customary post-closing adjustments and funded with cash on hand. Applied expects the acquisition to contribute about $260 million in sales and $30 million in EBITDA before anticipated synergies and to be accretive to EPS within the first 12 months of ownership, and it expects the deal to close in the fourth quarter of 2024 subject to regulatory and other conditions.
Key points
- Purchase price is $272 million, paid in cash on hand, subject to post-closing adjustments for cash, indebtedness, transaction expenses and working capital
- Applied expects Hydradyne to add about $260 million in sales and $30 million in EBITDA before synergies, and to be accretive to EPS within 12 months
- Closing is expected in the fourth quarter of 2024, subject to HSR antitrust waiting period expiration; either party may terminate if not closed by March 21, 2025
- Hydradyne has nearly 500 associates across 33 Southeastern U.S. locations and will become part of the Engineered Solutions segment
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:56 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 22, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.