M&A Deal Summary

Parker Hannifin Acquires Resistoflex Aerospace

On May 15, 2006, Parker Hannifin acquired machinery company Resistoflex Aerospace from Crane

Acquisition Highlights
  • This is Parker Hannifin’s 6th transaction in the Machinery sector.
  • This is Parker Hannifin’s 22nd transaction in the United States.
  • This is Parker Hannifin’s 2nd transaction in Florida.

M&A Deal Summary
Date 2006-05-15
Target Resistoflex Aerospace
Sector Machinery
Buyer(s) Parker Hannifin
Sellers(s) Crane
Deal Type Divestiture

Target

Resistoflex Aerospace

Jacksonville, Florida, United States
Resistoflex Aerospace, which invented PTFE extruded hose, also produces tubes and swaged fittings, including hydraulic beam seal fittings for aircraft and engine applications, and Nutlok, a separable fluid connector requiring no lockwire.

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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 33 of 73
Sector (Machinery) 6 of 11
Type (Divestiture) 11 of 21
State (Florida) 2 of 2
Country (United States) 22 of 41
Year (2006) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-31 Kuroda Pneumatics

Asahi-shi, Japan

Kuroda Pneumatics Ltd., manufactures high performance actuators, cylinders, valves, controls and other related products for a wide variety of industrial automation applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-25 Acal - Air Conditioning & Refrigeration Business

United Kingdom

Acal plc - Air Conditioning & Refrigeration Business manufactures, trades in, and supplies air conditioning and refrigeration equipment in India and internationally.

Buy £8M

Seller(S) 1

SELLER

Crane

Stamford, Connecticut, United States
Category Company
Founded 1855
Sector Machinery
Employees7,000
Revenue 2.1B USD (2023)
DESCRIPTION

Crane is a diversified manufacturer of highly engineered industrial products. Crane provides products and solutions to customers in the aerospace, electronics, hydrocarbon processing, petrochemical, chemical, power generation, automated merchandising, transportation and other markets. Crane was Incorporated in 1855 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 1 of 3
Sector (Machinery) 1 of 1
Type (Divestiture) 1 of 3
State (Florida) 1 of 1
Country (United States) 1 of 3
Year (2006) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-17 CashCode

Concord, Ontario, Canada

CashCode Co. Inc. specializes in niche applications for banknote validation, storage and recycling devices for use in vending, gaming, retail and transportation applications.

Buy $86M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-12 Telequip

Salem, New Hampshire, United States

Telequip manufactures coin dispensing solutions. Telequip provides embedded and free-standing coin dispensing solutions principally focused on the retail market which includes grocery and convenience stores, quick-service restaurants and self-checkout/self-service kiosks.

Buy $45M
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