Posted August 4, 2010
Applied Industrial Technologies acquires SCS Supply
Applied Industrial Technologies Ltd., the Canadian subsidiary of Applied Industrial Technologies, announced it has acquired SCS Supply Group Inc., formerly known as Toronto Bearing & Belting and CBS Equipment. Terms of the sale were not disclosed.
The acquired business operates eight locations with 61 employees throughout southern Ontario and services a broad base of industrial customers with bearings, power transmission, electrical, fluid power and industrial supplies.
The SCS management team of John (Jay) Shore, Rob Sharpe and Ralph Caporiccio will continue with the Applied organization, reporting to Ron Sowinski, president and chief operating officer of Applied Industrial Technologies Ltd.
"We're very pleased to establish our presence in the province of Ontario with such a reputable business partner," said Todd A. Barlett, vice president - Acquisitions and Global Business Development for Applied. "This acquisition further expands Applied's geographic footprint and creates opportunities to access a major economic sector of Eastern Canada."
"We are happy to be joining a strong company that aligns with our products, services, values and culture," said Jay Shore, president of SCS Supply.
