ACHRNEWS

Parker Hannifin Acquires Micro Thermo

September 20, 2010

CLEVELAND - Parker Hannifin Corp. acquired Micro Thermo Technologies from Carrier Corp. Micro Thermo Technologies, based in Quebec, manufactures refrigeration controls and energy management systems for supermarket applications. The terms of the transaction were not disclosed. The acquisition is expected to be accretive to earnings in its first full year of operations.

Micro Thermo Technologies had sales of approximately $10 million for the year ended Dec. 31, 2009, and employs approximately 50 people. Sales will be reported in Parker’s Climate and Industrial Controls segment, and the acquired company will be integrated into the electronics business unit of Parker’s Sporlan division.

“This acquisition strengthens our ability to establish the most complete range of electronic and mechanical control systems for supermarket refrigeration and HVAC systems,” said Tom Healy, president of Parker’s Climate and Industrial Controls Group.

“Micro Thermo Technologies has built a strong reputation for quality electronic controls in markets that are complementary to our Sporlan brand mechanical controls markets in North America. These combined capabilities extend our position as a systems provider to our customers and can help drive growth in this part of our business.”

Publication date: 09/20/2010