Parker Hannifin, the
global leader in motion and control technologies, on April 2 announced the
acquisition of Rectus AG, a leading 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
Rectus will operate
within the Industrial North America and Industrial International segments of
Parker's global fluid connectors business. Bob Bond, president of Parker's Fluid
Connectors Group, said, "Rectus compliments Parker's global presence in the
pneumatic and hydraulic coupling market while significantly strengthening our
European position. Their highly regarded products and systems are widely
available through a select distribution network, and add to our ability to
provide customers with the industry's most complete package of fluid handling
technologies. We're eager to begin working closely with our new colleagues and
to jointly capture the many synergies we have identified to the benefit of our
combined customer base."
Rectus owner and
president Peter Klein added, "Parker and Rectus have enjoyed a growing business
relationship for nearly two decades, including joint product development and
private branding. The success of our past collaboration, combined with Parker's
record of successfully integrating acquired companies, should provide our
employees and customers with a strong feeling of comfort going forward. We
anticipate continued profitable growth as part of the Parker worldwide
organization."
With annual sales exceeding $9 billion, Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of commercial, mobile, industrial and aerospace markets.
