Parker-Hannifin Corp acquired Olaer Group, a transaction completed in July 2012, structured as Acquisition; terms not disclosed.
Olaer Group operates in Hydraulics Group (Industrial International / Industrial North America), is based in Deeside, United Kingdom. Parker completed its acquisition of the Olaer Group, headquartered in Deeside, United Kingdom, with manufacturing and sales in 14 countries across North America, Asia and Europe. Olaer had annual sales of roughly €150 million (about $200 million) and 550 employees, offering expertise in hydraulic accumulator and cooling systems. Around 88% of sales were reported as Industrial International and 12% as Industrial North America.
Expands Parker's presence in geographic growth areas and adds hydraulic accumulator and cooling-system expertise for target markets such as oil and gas, power generation and renewable energy.
Advisory firms were not disclosed for this transaction.