Parker Buys Eaton’s AC&R Business

September 6, 2001
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CLEVELAND, OH — Parker Hannifin recently completed the purchase of Eaton Corporation’s Aeroquip Air Conditioning and Refrigeration (AC&R) business for an undisclosed amount.

With about $75 million in annual revenues, more than 600 employees, and a facility in New Haven, IN, the AC&R unit produces mechanical controls and fluid systems for the residential and commercial air conditioning and refrigeration markets. Parker plans to operate the unit as a new division of its Climate and Industrial Controls business.

“This business is a perfect addition to our air conditioning and refrig-eration line, and we’re very pleased to welcome its talented people to Parker,” said Lynn Cortright, president of Parker’s Climate and Industrial Controls Group. “In strategy and in products themselves, this is a classic bolt-on situation, so we’ll be able to offer our customers the most complete line of products and inte-grated systems engineered for the best possible performance.”

Publication date: 09/10/2001

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