Parker Hannifin completes acquisition of Filtration Group
Cleveland, Ohio - Parker Hannifin Corporation has finalized its acquisition of Filtration Group Corporation, a deal expected to boost Parker's fiscal 2027 sales by approximately $1.8 billion within the first 10.5 months, as reported in a press release. The acquisition is projected to be neutral to adjusted earnings per share in the first quarter and accretive for the entire year of fiscal 2027.
Jenny Parmentier, Parker Hannifin's Chairman and Chief Executive Officer, commented on the completion of the transaction, stating it is a significant milestone in the company's ongoing portfolio transformation. She welcomed the Filtration Group team to Parker.
The Filtration Group specializes in markets such as life sciences, HVAC/R, and in-plant and industrial sectors, with their product brands often being sole-sourced. Matt Jacobson, President of Parker's Filtration Group, expressed confidence that the acquired team would find a suitable fit within the larger organization, emphasizing their shared commitment to advancing filtration solutions that protect and purify for customers worldwide.
Parker Hannifin, a Fortune 250 global company in motion and control technologies, has a history of increasing its annual dividend per share paid to shareholders for 70 consecutive fiscal years.
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