Parker Hannifin to acquire Lord Corporation
By Jim Gibbins - 1st June 2019
USA - Parker Hannifin Corporation of Cleveland, Ohio, a specialist in motion and control technologies, has entered into a definitive agreement to acquire global conglomerate, Lord Corporation of Cary, North Carolina, for approximately USD3.675bn in cash. The transaction has been approved by the board of directors of each company and is subject to customary closing conditions, including receipt of applicable regulatory approvals.
Lord Corporation is a privately held company founded in 1924 offering a broad array of advanced adhesives, coatings and vibration and motion control technologies. Its products are used in mission-critical applications in the aerospace, automotive and industrial markets. Lord has annual sales of approximately USD1.1bn and employs 3,100 team members across 17 manufacturing and 15 research and development facilities globally.
