Parker Hannifin to Acquire Filtration Group in Strategic Expansion Move

Motion and control technologies giant Parker Hannifin has reached an agreement to acquire Filtration Group, a global maker of filtration systems, for more than $9 billion, company officials announced.

A $2B Business

Filtration Group Corp., an affiliate of Madison Industries, offers filtration technologies for various applications across the industrial, life sciences, ventilation, and other industries. The company has a global workforce of approximately 7,500 and expects to generate around $2 billion in sales this year, Parker officials stated.The proposed $9.25 billion deal does not include its Facet fuel filtration business, which will remain with Madison Industries.

One of the World's Largest Filtration Providers

Parker officials said that the deal would create one of the largest industrial filtration businesses worldwide. It would also add strong brand names in key markets and enable recurring aftermarket revenue streams.

Closing Expected Next Year

Parker Hannifin said that it will fund the purchase with a combination of new debt and cash on hand. The acquisition is expected to be completed next year, pending approval from regulators and fulfillment of other closing conditions.

Image credit: Quality Stock Arts/Shutterstock

Find Thomasnet Suppliers and Services

Filtration Systems

Filters

Pumps