Parker expands reach in fluid power with acquisition of Denison
Cleveland, OH -- Parker Hannifin Corporation has acquired all outstanding shares of Denison International plc. Park...
Cleveland, OH — Parker Hannifin Corporation has acquired all outstanding shares of Denison International plc. Parker Hannifin is a manufacturer of motion and control technologies and systems, while Denison an industrial manufacturer and service provider for highly engineered hydraulic fluid power systems and components.
“We are extremely pleased to welcome Denison into Parker’s worldwide family of leading motion-control technologies,” said president and CEO Don Washkewicz. “Denison’s excellent performance and established leadership in Europe and Asia will make us stronger, and accelerate our growth momentum in these regions.”
Denison, which had annual revenues of approximately US$180 million, will operate as a division of the Parker Hydraulics Group. Denison employs about 1,150 people in Europe, Asia and North America, with 61% of revenues in Europe. Among Denison’s specialized technologies are hydraulic vane pumps, hydrostatics and a digitally controlled fan-drive system.