Parker Hannifin Acquires Sea Recovery
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…
Parker Hannifin Acquires Kittiwake Group
Alliance provides total system health management to customers. Kittiwake Group, a leading global provider of asset control and protection technology, has been acquired by Parker Hannifin Corp., the global leader in motion and control technologies. The transaction is designed to offer greater value with a comprehensive and innovative range of products and solutions and includes the acquisition of the entire Kittiwake Group, including Kittiwake Developments Ltd, Kittiwake Procal Limited, Kittiwake Holroyd Limited and Kittiwake Incorporated. The two companies complement each other; dealing within the same markets but with clear differentiation in product ranges.
