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Stock Market & Financial Investment News

News Breaks
July 2, 2014
07:33 EDTAITApplied Industrial completes three acquisitions
Applied Industrial has completed the previously announced acquisition of Knox Oil Field Supply, a distributor of oilfield supplies and related services with 15 locations in Texas and one in New Mexico. The business employs 140 people and has annual sales of more than $100M. The Knox acquisition will be accretive in FY15, providing incremental EPS of 5c-7c. Applied also has acquired Rodamientos y Derivados del Norte S.A. of Monclova, Mexico, and Great Southern Bearings and Northam Bearings of Western Australia. Combined, RODENSA and GSB/Northam have approximately $20M in sales and will generate about 1% EPS accretion. The three purchases were funded through a $120M fixed-rate private placement facility and additional borrowings under Applied's existing revolving credit facility.
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November 18, 2014
07:39 EDTAITCFA Society of Cleveland to hold a conference
Midwest Investment Conference to be held in Cleveland, Ohio on November 18.

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