M&A Deal Summary

Parker Hannifin Acquires Avantech

On October 29, 1999, Parker Hannifin acquired manufacturer Avantech

Acquisition Highlights
  • This is Parker Hannifin’s 2nd transaction in the Manufacturing sector.
  • This is Parker Hannifin’s 2nd transaction in the United States.
  • This is Parker Hannifin’s 1st transaction in Texas.

M&A Deal Summary
Date 1999-10-29
Target Avantech
Sector Manufacturing
Buyer(s) Parker Hannifin
Deal Type Add-on Acquisition

Target

Avantech

Big Spring, Texas, United States
Avantech Corp., designs and manufactures electronic controls and systems for the construction, rescue equipment, aerial reach, and municipality markets.

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Buyer(S) 1

Buyer

Parker Hannifin

Cleveland, Ohio, United States
Category Company
Founded 1917
Sector Machinery
Employees50,520
Revenue 19.9B USD (2024)
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 3 of 73
Sector (Manufacturing) 2 of 38
Type (Add-on Acquisition) 1 of 51
State (Texas) 1 of 7
Country (United States) 2 of 41
Year (1999) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-06-30 DSM Nylaflow

Amelo, Netherlands

Nylaflow main products include a variety of thermoplastic hose and tubing for industrial, construction and truck customers, primarily in Europe.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-02-03 Dana Gresen Hydraulic

Greenville, South Carolina, United States

Gresen manufactures a wide range of hydraulic pumps, motors, cylinders, control valves, filters and electronic controls for on- and off-highway vehicles.

Buy -
Mergr

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