M&A Deal Summary

Parker Hannifin Acquires LORD

On April 29, 2019, Parker Hannifin acquired chemicals company LORD for 3.7B USD

Acquisition Highlights
  • This is Parker Hannifin’s 3rd transaction in the Chemicals sector.
  • This is Parker Hannifin’s 3rd largest (disclosed) transaction.
  • This is Parker Hannifin’s 41st transaction in the United States.
  • This is Parker Hannifin’s 4th transaction in North Carolina.

M&A Deal Summary
Date 2019-04-29
Target LORD
Sector Chemicals
Buyer(s) Parker Hannifin
Deal Type Add-on Acquisition
Deal Value 3.7B USD
Advisor(s) Morgan Stanley (Financial)
Jones Day (Legal)

Target

LORD

Drive Cary, North Carolina, United States
website
LORD Corporation is a diversified technology and manufacturing company developing highly reliable adhesives, coatings, motion management devices, and sensing technologies that significantly reduce risk and improve product performance. For more than 90 years, LORD has worked in collaboration with our customers to provide innovative oil and gas, aerospace, defense, automotive and industrial solutions.

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Buyer(S) 1

Buyer

Parker Hannifin

Cleveland, Ohio, United States

website

Category Company
Founded 1917
Sector Machinery
Employees50,520
Revenue 13.7B USD (2020)
DESCRIPTION
Entrance to Parker Hannifin's corporate headquarters in Cleveland, Ohio.
Entrance to Parker Hannifin's corporate headquarters in Cleveland, Ohio.

Parker-Hannifin is a diversified manufacturer of motion and control technologies and systems, providing precision engineered solutions for a wide variety of mobile, industrial and aerospace markets. Parker Hannifin was formed in 1917 and is based in Cleveland, Ohio.

DEAL STATS #
Overall 72 of 73
Sector (Chemicals) 3 of 3
Type (Add-on Acquisition) 50 of 51
State (North Carolina) 4 of 4
Country (United States) 41 of 41
Year (2019) 1 of 1
Size (of disclosed) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-14 Parker Hannifin - Precision Cooling Business

Cleveland, Ohio, United States

Parker Hannifin Corp. - Precision Cooling Business is a designer and manufacturer of refrigerant based Pumped Two-Phase Cooling systems and assemblies. Its products have been used in cooling of electric drives, inverters, motors and generators, batteries, and other high power electronic devices.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-23 Parker-Hannifin Aircraft Wheel & Brake Division

Avon, Ohio, United States

Parker-Hannifin Aircraft Wheel & Brake Division is a provider of mission-critical wheel and brake technology products and solutions for more than eighty years. With a strong product portfolio supporting more than 100 platforms, Aircraft Wheel & Brake specializes in wheels, brakes and related hydraulic components for fixed-wing aircraft and rotorcraft. They have long-standing global relationships with leading military and general aviation customers providing customized proprietary designs, protected by intellectual property. Aircraft Wheel & Brake operates out of one centralized facility in Avon, Ohio, providing a full suite of capabilities including design, development and qualification, as well as manufacturing and assembly, product support and repairs.

Sell $440M
Mergr

Product

Company

Legal