Cleveland, OH—Eaton Corp. reports that it’s agreed to buy Hayward Industries Inc.’s industrial filtration business. Terms of the deal were not disclosed. The transaction is expected to close in 2005’s third quarter.
Cleveland, OH— Eaton Corp. reports that it’s agreed to buy Hayward Industries Inc.’s industrial filtration business. Terms of the deal were not disclosed. The transaction is expected to close in 2005’s third quarter.
Hayward Filtration produces filtration systems for industrial and commercial settings. The division reports that it’s a leader in liquid, high-purity bag filtration systems. Its main industries include general industrial, petrochemical, pharmaceutical, food and beverage, power utilities, marine, and water treatment applications. Hayward Industries is a privately held manufacturer of swimming pool equipment, industrial filtration, and flow control products.
The industrial filtration business had sales of about $100 million during the past 12 months. This division employs about 530 people worldwide, and is headquartered in Elizabeth, NJ. It operates five manufacturing facilities in the United States, Belgium, Germany, China and Brazil.
‘As a leader in the industrial filtration market, Hayward represents a natural extension of Eaton’s fluid power business,’ said Alexander Cutler, Eaton’s chairman and CEO. ‘Hayward Filtration offers highly engineered products with a strong base of recurring sales. Hayward has enjoyed attractive profitability and returns, and we expect this acquisition to be immediately accretive to Eaton’s earnings.’
A diversified industrial manufacturer with sales of $9.8 billion in 2004, Eaton produces electrical systems and components for power quality, distribution and control; fluid power systems and services for industrial, mobile and aircraft equipment; intelligent truck drivetrain systems for safety and fuel economy; and automotive engine air management systems, powertrain solutions and specialty controls for performance, fuel economy and safety.
Control Engineering Daily News DeskJim Montague, news [email protected]
