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ParkOhio Holdings Corp. (NASDAQ: PKOH), Cleveland, OH, has acquired GH Electrotermia, S.A., Valencia, Spain, from Miura Private Equity for $31 million.
GH, with annual sales of $55 million, designs, manufactures and tests induction heating equipment and heat treat solutions through its locations in Spain, India, Germany, China and New York.
This acquisition strengthens ParkOhio's Ajax Tocco Magnethermic's position and adds key technologies to an already diverse portfolio of induction hardening capabilities.