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In 1957, the company purchased Hannifin, a producer of valve and cylinder products, and changed its name to Parker Hannifin. [10] Many more acquisitions followed, with the company reaching 40 acquisitions by the year 1979. [11] In 1953, Arthur Parker's son Patrick S. Parker began working full-time at the company. [12]
In December 2016, Parker Hannifin entered into a definitive agreement to acquire CLARCOR for approximately $4.3 billion in cash. [11] The acquisition was completed on February 28, 2017. [ 12 ]
Timeline of former nameplates merging into Macy's. Many United States department store chains and local department stores, some with long and proud histories, went out of business or lost their identities between 1986 and 2006 as the result of a complex series of corporate mergers and acquisitions that involved Federated Department Stores and The May Department Stores Company with many stores ...
Parker-Hannifin (PH) is likely to benefit from strength across its end markets and acquired assets. The coronavirus outbreak-led market downturn and high debt level pose concerns.
On April 29, 2019 it was announced that LORD Corporation would be acquired by Parker Hannifin for $3.675 billion. [15] The sale was approved by the boards of each respective company and closed on October 30, 2019.
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Strength in OEM and MRO businesses in both commercial and military end markets is likely to be boost Parker-Hannifin's (PH) fiscal Q4 results. High integration cost related to acquisition is a drag.
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