Parker Hannifin Acquires Sea Recovery

press release
Thursday, October 18, 2012

Parker Agrees to Acquire Sea Recovery from Danfoss A/S to Strengthen Its Position in Seawater Desalination for Marine Applications.

 

Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced that it has signed an agreement to acquire Sea Recovery, headquartered in Compton, CA from Danfoss A/S.  Parker will assume ownership of the acquired business on November 1 st, 2012.  Sea Recovery is a manufacturer of small to high capacity reverse osmosis systems for sea water desalination used primarily in commercial and pleasure marine applications. Terms of the transaction were not disclosed.

 

Sea Recovery had sales of approximately $26 million for the last twelve months ending August 31 st and 70 employees, and has been engineering and manufacturing sea water reverse osmosis systems since 1981.  The acquired company will become a part of Parker's Filtration Group and approximately 47 percent of revenues will be reported in the North American Industrial segment and the remaining 53 percent of revenues will be reported in the International Industrial segment.

 

"This acquisition supports our water purification growth strategy and further strengthens Parker's global leadership position in creating fresh water for commercial marine and large yacht markets," said Peter Popoff, President – Filtration Group.  "Sea Recovery product lines help Parker expand its offering across geographic and end market applications.  Their dedicated global sales and service organization is a strategic fit with our existing world class distribution network and will enable Parker to provide customers with the most advanced seawater desalination systems anywhere in the world."

 

Nis Storgaard, Danfoss Chief Development Officer added, "We are happy that we have found a new owner that is ready to support Sea Recovery and its employees to further develop and grow the business."

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Solarworld Wants Duties on Chinese Solar Goods in U.S. Extended

German solar manufacturer SolarWorld will apply to the United States for an extension of duties on Chinese panel imports that are due to end this year, weekly Euro am Sonntag said.

Sea Urchin Haven Disturbed by Oil Spill

Stephanie Mutz makes a living plucking sea urchins from the Santa Barbara coast and selling the prickly treasure to upscale restaurants in Southern California.

5 Tunisian Migrants Die in Shipwreck

At least five Tunisian migrants died on Saturday when their boat sailing to Italy capsized off the Tunisian coast, officials said. "A migrant boat carrying

Contracts

Solarworld Wants Duties on Chinese Solar Goods in U.S. Extended

German solar manufacturer SolarWorld will apply to the United States for an extension of duties on Chinese panel imports that are due to end this year, weekly Euro am Sonntag said.

Viking Orders 2 Liebherr Cranes

An LR 1300 with super lift equipment and an LR 1160 crawler crane will strengthen the fleet of Viking Cranes. The Tallinn-based company with branch offices

KPCT Launches New Gulf Service

Containerized volumes are steadily increasing on the East Coast of India. Keeping pace with the growth, Krishnapatnam Port Co. Ltd. (KPCT) now offers a new service to the Gulf sector.

Finance

Solarworld Wants Duties on Chinese Solar Goods in U.S. Extended

German solar manufacturer SolarWorld will apply to the United States for an extension of duties on Chinese panel imports that are due to end this year, weekly Euro am Sonntag said.

Sea Urchin Haven Disturbed by Oil Spill

Stephanie Mutz makes a living plucking sea urchins from the Santa Barbara coast and selling the prickly treasure to upscale restaurants in Southern California.

Viking Orders 2 Liebherr Cranes

An LR 1300 with super lift equipment and an LR 1160 crawler crane will strengthen the fleet of Viking Cranes. The Tallinn-based company with branch offices

Marine Equipment

Viking Orders 2 Liebherr Cranes

An LR 1300 with super lift equipment and an LR 1160 crawler crane will strengthen the fleet of Viking Cranes. The Tallinn-based company with branch offices

Alaska, Washington to build Arctic Icebreakers

Senator Lisa Murkowski, Alaska, and Senator Maria Cantwell, Washington, have introduced a bill that would authorize the Navy to build up six icebreakers for use by the U.

Seaway to Receive Prestigious OECD Award

The St. Lawrence Seaway Management Corporation (SLSMC) announced today that it will receive a prestigious award from the Organization for Economic Cooperation

Mergers & Acquisitions

Viking Orders 2 Liebherr Cranes

An LR 1300 with super lift equipment and an LR 1160 crawler crane will strengthen the fleet of Viking Cranes. The Tallinn-based company with branch offices

Fincantieri Invests In Camper & Nicholsons

Fincantieri has signed an agreement for the acquisition of a minority stake via capital injection in Camper & Nicholsons International (Camper & Nicholsons), the

Ferry Firm DFDS Looks to Expand

Danish ferry and transportation firm DFDS is on the takeover trail, its chief executive said, after reporting its highest first-quarter operating profit on record

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pod Propulsion Port Authority Salvage Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1363 sec (7 req/sec)