It has been announced that Applied Industrial Technologies will acquire fellow prominent distributor FCX Performance. The deal is for approximately $768 million and is expected to close within 30 days.
FCX is the premier distributor of highly engineered valves, instruments, pumps and lifecycle services to MRO and OEM customers across diverse industrial and process end markets.
“We are very pleased to announce the pending acquisition of FCX, which further enhances our position as a differentiated industrial distributor,” said Neil Schrimsher, president & CEO for Applied. “FCX brings to Applied market leading, value-added specialty flow control expertise with premier brands, high-touch technical service, an extensive footprint, and strong customer relationships.”