Kittiwake Group Acquired by Parker Hannifin

by Ship & Bunker News Team
Monday July 23, 2012

Littlehampton, U.K. based Kittiwake Developments Limited (Kittiwake) has announced that it has been acquired by Parker Hannifin Corporation [NYSE:PH] (Parker), an international presence in motion and control technologies.

Peter Popoff, President of Parker's Filtrations Group says, "The acquisition of Kittiwake will allow Parker Hannifin to extend our position in diagnostic products and reinforce our ability to offer our customers complete health monitoring solutions for filtrations systems." 

"We welcome the employees of Kittiwake to Parker and are excited about the growth opportunities this combination creates," he added.

No details of the consideration paid to Kittiwake in the transaction were given at this time.

Kittiwake, who has annual sales of approximately $20 million and employs 95 people, will be integrated into Parker Filtration Group with future sales to be reported in its International Industrial Segment.

According to its press release, Kittiwake is a leading manufacturer of condition monitoring technology for use alongside filtration technology in the commercial marine, oil, gas, power generation and defence markets.  

Parker Hannifin had annual sales in excess of $12 billion in fiscal 2011 and has approximately 58,000 employees in 47 countries worldwide.

Ship & Bunker News Team
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