$3.6 Billion transaction expands Parker’s engineered materials business.
Parker Hannifin Corporation (NYSE:PH) today announced that it will acquire Fusor adhesive manufacturer Lord Corporation for approximately $3.675 billion in cash. The transaction has been approved by the Board of Directors of each company and is subject to customary closing conditions, including receipt of applicable regulatory approvals. As CollisionWeek reported in March, collision repair industry supplier Lord Corporation was exploring a sale of the privately-held company.
Lord, headquartered in Cary, N.C., was founded in 1924 and offers an array of adhesives, coatings and specialty materials as well as vibration and motion
Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options.