SEARCHES AND HIRES

Applied Industrial Technologies taps Principal as 401(k) record keeper

Applied Industrial Technologies Inc., Cleveland, hired Principal Financial Group as record keeper of its 401(k) plan, the company disclosed in an 8-K filing with the Securities and Exchange Commission on Thursday.

Principal will replace Wells Fargo. A blackout period for participants begins on March 3 and will end during the week of March 19.

As of Dec. 31, 2015, the Applied Industrial Technologies Inc. Retirement Savings Plan had $419 million in assets, according to the company's most recent 11-K filing. As of that date, the plan had 25 investment options and a target-date fund lineup managed by Vanguard Group.

Gregory Krupa, human resources manager, could not be immediately reached to provide further information.