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Applied Industrial Technologies Buys Texas Oilpatch Services

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1/2/2014 1:37 PM ET

Applied Industrial Technologies, Inc. (AIT: Quote) said Thursday that it has bought Texas Oilpatch Services Corp., a Houston, Texas-based distributor of bearings, oil seals, power transmission products, and related replacement parts to the oilfield industry.

While the terms of the sale were not disclosed, the deal will be accretive in the current fiscal year.

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