Parker Hannifin Corporation (NYSE:PH) announced yesterday it completed its acquisition of LORD Corporation for approximately $3.675 billion in cash that was announced in April. The strategic transaction creates a combined organization with strong materials science capabilities, electrification and aerospace product offerings that are highly complementary.
According to the company, the acquisitions will significantly expand Parker’s materials science capabilities with complementary products, better positioning Parker to serve customers in growth industries and capitalize on emerging trends such as electrification and lightweighting.
“We are excited about the opportunity to strengthen our technology portfolio by significantly bolstering our position in engineered materials,”