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Parker Hannifin Corporation, Cleveland, OH, announced the acquisition of the air conditioning and refrigeration business (AC & R) of Acal plc. Acal's AC & R revenues totaled approximately $31.5 million (18.4 million pounds Sterling) for the year ended March 2006. Earnings are expected to be accretive to Parker in the first full year.
The majority of Acal's 40 employees are technical field sales engineers who will join Parker's global sales and service network. Parker will also gain three service centers, in Germany, France and the United Kingdom, as part of the transaction.
Prior to acquisition, U.K.-based Acal was the exclusive agent and distributor for all Parker Sporlan brand products everywhere in the world except North America, Mexico and Japan. Sporlan Valve Company was acquired by Parker in 2004 and is now an operating division of the company's Climate and Industrial Controls Group.
"Parker has had a very successful relationship with Acal as a channel partner," said Tom Healy, President of Parker's Climate and Industrial Controls Group. "Over the last 40 years, the people of Acal have helped to make Sporlan one of the most recognized names in the global cooling industry. This acquisition brings Parker additional technical expertise, market knowledge and customer relationships, all of which will help us continue to grow our business outside of North America."
With annual sales exceeding $8 billion, Parker Hannifin is a diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of commercial, mobile, industrial and aerospace markets. The company employs more than 55,000 people in 46 countries around the world.