Parker Hannifin Corp. (NYSE: PH), Cleveland, OH, manufacturer in motion and control technologies, has agreed to acquire Sea Recovery, Compton, CA, from Danfoss A/S.
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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.
Sea Recovery had sales of $26 million for the 12 months ending Aug. 31 and 70 employees. The acquired company will become a part of Parker's Filtration Group and 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 of Parker’s 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."
Parker had annual sales of $13 billion in fiscal 2012.