Parker acquisition
Published: 18 December, 2007
Parker Hannifin has announced the acquisition of Rectus AG, manufacturer of quick disconnect couplings and related products for pneumatic, hydraulic, medical and chemical processing applications. The company employs approximately 380 people worldwide including its headquarters in Nussdorf, Germany, its Nycoil operation in Randleman, North Carolina, its TEMA operation in Skovde, Sweden and several international sales offices. Rectus' revenues were approximately $115 million in 2006. Earnings are expected to be accretive to Parker in the first full year. Terms of the deal were not disclosed.
