Acquisition frenzy

Parker Hannifin has acquired Sterling Hydraulics from Sterling Industries, a wholly owned subsidiary of Caledonia Investments.

Based in Crewkerne in the UK, Sterling designs and manufactures custom hydraulic screw-in cartridge valves and manifold systems for mobile applications.The company produced revenue of approximately $42 million in its fiscal year ended March 31, 2005. It has facilities in Chicago, IL, in addition to its facilities in the UK, and employs nearly 300 people.

But that’s not the only acquisition for Parker this month. It’s also bought the Porter Instrument Company, a developer of analytical, industrial, medical and dental instrumentation.

Since 1968, Hatfield, PA-based Porter has specialised in the development and manufacture of precision instruments that measure and control gases and liquids. Porter's annual revenue for the year ended 2004 was approximately $35 million.