Kittiwake Group, a leading global provider of asset control and protection technology, has been acquired by
Parker Hannifin Corp., the global leader in motion and control technologies.
The transaction includes the acquisition of the entire Kittiwake Group, including
Kittiwake Developments Ltd,
Kittiwake Procal Limited,
Kittiwake Holroyd Limited and
Kittiwake Incorporated.
A statement released today by the PR agency of Kittiwake said: "The two companies complement each other; dealing within the same markets but with clear differentiation in product ranges. Kittiwake's market leading condition monitoring technology - including wear debris sensors, oil testing and analysis instrumentation and acoustic, vibration and gas emissions monitoring sensors - works seamlessly alongside Parker Hannifin's filtration technology in the commercial marine, oil and gas, power generation and defence markets."
Kittiwake, with annual sales of approximately $20 million and employing 95 people, will be integrated into Parker's Filtration Group and the sales will be reported as part of the International Industrial Segment.
Peter Popoff, President of Parker's Filtration Group said: "Kittiwake Developments will allow us to extend our position in diagnostic products and reinforce our ability to offer our customers a complete health monitoring solution for their filtration systems. We welcome the employees of Kittiwake to Parker and are excited about the growth opportunities this alignment creates.
Martin Lucas, Kittiwake Managing Director, commented: "The acquisition by Parker Hannifin represents an exciting new chapter for Kittiwake and our collective customer base. By adding Kittiwake to Parker, we are pleased to be able to offer a comprehensive portfolio of advanced diagnostic products and solutions that, combined with Parkers filtration expertise, enable us to provide Total System Health Management. Throughout the transition process, the Kittiwake and Parker teams remain committed to providing ongoing operational excellence to our customers."
Parker Hannifin employs approximately 58,000 people in 47 countries and its sales revenue was more than $12 billion in fiscal year 2011.
