Applied Industrial Acquires Groupe GLM

Resource from: ebearing Likes:2971

Feb 05,2005

Applied Industrial Technologies Ltd. (Canada, a division of Applied Industrial Technologies Inc., USA) has acquired Groupe GLM. Privately-held GLM operates five, largely market-targeted, bearing and power transmission distributors in northern Quebec. Applied is a key distributor of industrial aftermarket replacement bearings and similar products. The company also provides engineering and design assistance. Applied has over 4,300 employees in more than 430 facilities across the United States, Canada and Mexico. GLM's five distributors -- GLM, PV Hydraulique, Pro Hydraulique, Mecanique Industrielle, and Reparations Maritimes -- have annual sales of approximately USD $20 million. They service diverse markets from paper processing, forest product, power generation, mining, primary metals, to shipbuilding and repair. Sylvie Robitaille, GLM's former head, will continue in that position with Applied, as Vice President and General Manager of the operation. Todd Bartlett, Applied's Vice President of Acquisitions and Global Business Development, said, "We're extremely pleased to enter the Eastern Canadian market with such a strong partner. Groupe GLM has established a reputation as a distribution leader in Quebec. Sylvie's management, along with the expertise of the strong team of Groupe GLM associates, will ensure the continued growth and success of the organization." Marius Robitaille, former owner of Groupe GLM, will continue on with the company as a consultant to Applied as it targets additional growth and markets in Quebec.

(ebearing)

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