Posted August 4, 2011
Applied acquires Chaines-Plus
Applied Industrial Technologies Ltd., the Canadian subsidiary of Applied Industrial Technologies, announced it has acquired the business of Chaines-Plus.
Terms of the sale were not disclosed.
Chaines-Plus operates one location on the south shore of Montreal and serves a broad base of industrial customers in the Montreal market with bearings, power transmission and related products.
The current management team, headed by Alain Boudreau, will continue to serve with the Applied organization, reporting to Mike Allen, vice president for the Eastern Canadian operations of Applied.
"We're very pleased to enter the Montreal market with the established expertise and reputation of Chaines-Plus," said Todd A. Barlett, vice president - Acquisitions and Global Business Development for Applied. "This acquisition further expands Applied's geographic footprint and creates additional opportunities to access a major economic sector of Eastern Canada."
"We are happy to be joining a company that will help broaden our product lines and source of supply," said Boudreau. "Applied will give us greater depth and will strengthen our ability to serve our customers."
