Parker acquires T Squared; expands into life science market
Cleveland, OH—Parker Hannifin Corp. announced Nov. 4 that it has acquired T Squared Manufacturing Corp. (Lincoln Park, NJ) for an undisclosed amount.
Cleveland, OH— Parker Hannifin Corp. announced Nov. 4 that it has acquired T Squared Manufacturing Corp. (Lincoln Park, NJ) for an undisclosed amount. Parker reports that it expects the purchase to be accretive to its earnings as T Squared is integrated.
With annual revenues of approximately $3 million, T Squared produces specialty diaphragm pumps for gaseous media in life science applications. T Squared will become part of Parker's Automation Group, and T Squared’s product line will become part of Parker's Pneutronics division (Hollis, NH).
'The acquisition of T Squared will uniquely position Parker's Pneutronics Division as the sole provider of both miniature solenoid valves and pump technology for life science applications,' says Bob Bond, Parker Automation’s president. 'Adding T Squared technology to our existing product line supports our vision of being the premier value integrator of system solutions to the emerging life sciences market.'
Parker Automation markets products for motion control, robotic and electromechanical applications, including controllers, servo and stepper drives, servo motors, CTC human-machine interfaces (HMI) and PC-based machine control produced by its Compumotor Division. With annual sales exceeding $6 billion, Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of commercial, mobile, industrial and aerospace markets.
Control Engineering Daily News Desk
Jim Montague, news editor