Exit Strategies Group is pleased to announce that Applied Industrial Technologies has acquired Gibson Engineering Company, a value-added distributor and system integrator of industrial automation technologies. Exit Strategies Group served as the exclusive M&A advisor to Gibson shareholders.
Gibson Engineering, based in Norwood, MA, distributes advanced robotics, vision systems, sensors, motion and machine controls, material handling and other industrial automation products, and integrates mixed technology systems. For over 40 years, Gibson has been a trusted supplier partner to major OEM and end user manufacturers throughout the Northeast and Mid Atlantic region. Under the principled leadership of CEO Dan O’Brien, Gibson Engineering has developed into one of the most capable and respected automation solution providers in North America.
Al Statz, who led the engagement for Exit Strategies said, “Our sale process generated keen interest from several top firms. Applied ultimately presented the right balance of strategic opportunities and cultural alignment for our client. I am confident that Gibson’s suppliers will benefit from this partnership and I look forward to seeing what the Gibson team can accomplish as part of the Applied family.”
Financial terms of the transaction were not disclosed.
About Applied Industrial Technologies: Publicly traded AIT is a leading multi-national distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies. Read the Applied news release.
About Exit Strategies Group, Inc.: Founded in 2002, Exit Strategies Group is a boutique M&A advisory firm providing full-service sell-side representation, business valuations and exit planning assistance to owners of private lower middle market businesses in automation, material handling and other industries.