January 9, 2018 / 11:17 AM / 15 days ago

BRIEF-Applied Industrial Technologies To Acquire FCX Performance Inc

Jan 9 (Reuters) - Applied Industrial Technologies Inc :

* APPLIED INDUSTRIAL TECHNOLOGIES TO ACQUIRE FCX PERFORMANCE, INC.

* APPLIED INDUSTRIAL TECHNOLOGIES INC - DEAL FOR ‍TOTAL CONSIDERATION OF APPROXIMATELY $768 MILLION​

* APPLIED INDUSTRIAL TECHNOLOGIES INC - DEAL WILL BE FINANCED WITH NEW CREDIT FACILITY COMPRISED OF A $780 MILLION TERM LOAN A AND $250 MILLION REVOLVER

* APPLIED INDUSTRIAL TECHNOLOGIES INC - DEAL EXPECTED TO BE ACCRETIVE IN FY 2019 AFTER RECOGNITION OF RELATED ONE-TIME DEAL COSTS IN FY 2018

* APPLIED INDUSTRIAL TECHNOLOGIES-ACQUISITION ANTICIPATED TO CONTRIBUTE ABOUT $550 MILLION IN SALES, $68 MILLION IN EBITDA IN FIRST 12 MONTHS OF CO‘S OWNERSHIP​

* APPLIED INDUSTRIAL TECHNOLOGIES TO ACQUIRE FCX PERFORMANCE, INC. Source text for Eikon: Further company coverage:

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