Parker Hannifin Corporation and Sporlan Valve Company have jointly announced that Parker has completed its acquisition of Sporlan, a leader in refrigeration and air conditioning components, controls and systems, for an undisclosed amount. The deal is expected to be accretive to earnings in the first full fiscal year.
Headquartered in Washington, MO, U.S., Sporlan operates seven manufacturing facilities and employs about 1,000 people. Annual revenues are approximately U.S. $150 million. Recognizing Sporlan's prominent position in the industry, Parker will make Sporlan a new division within Parker's Climate & Industrial Controls Group.
The companies said the acquisition is complementary, with Sporlan adding its leadership in the commercial refrigeration and aftermarket distribution segments of the market to Parker's existing presence in the air-conditioning segment. In addition, Parker believes Sporlan's experience in electronic control technologies now enables Parker to offer customers more precise cooling solutions that reduce energy consumption, provide system diagnostic capabilities, and deliver enhanced performance.
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