Parker completes Filtration Group acquisition
Parker Hannifin Corp. has completed its previously announced acquisition of Filtration Group Corp.
“The close of this transaction marks another milestone in our ongoing portfolio transformation, and we welcome our new team members to Parker,” said Chairman and Chief Executive Officer Jenny Parmentier. “Strategically, the combination of our businesses creates a powerhouse offering of complementary filtration technologies and aftermarket presence that we believe strengthens our ability to serve customers globally. Using The Win Strategy, the acquisition is expected to compound earnings per share growth and create shareholder value.”
Filtration Group Corp. adds to Parker’s portfolio of highly engineered products and leverages deep technical and application knowledge to serve key growth markets, including life sciences, HVAC/R, and in-plant and industrial. The company’s collection of established product brands are validated, specified and often sole-sourced. These capabilities complement Parker’s interconnected technology portfolio and increase its aftermarket presence, which the company expects will create strong recurring revenue streams across multiple product platforms.
Matt Jacobson, president of Parker’s Filtration Group, added, “Having built a high performing business, the talented team at Filtration Group Corporation will find an excellent fit at Parker. We share a commitment to advancing filtration solutions that protect and purify for our customers around the world, and bringing our businesses together will enable us to deliver even greater value.”
Filtration Group Corp. is expected to add approximately $1.8 billion to Parker’s fiscal 2027 sales in the first 10.5 months of ownership. Approximately 60% of sales are expected in the Diversified Industrial Segment North America businesses, and 40% in the International businesses. The acquisition is expected to be neutral to adjusted EPS in the first quarter of fiscal 2027 and accretive to adjusted EPS for the full year fiscal 2027. Parker estimates pre-tax cost synergies of approximately $220 million by the end of year three.
INDUSTRIAL SUPPLY MAGAZINE
The July/August issue of Industrial Supply magazine features an in-depth cover story about Global Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
