Parker Hannifin today announced it has acquired Advanced Products Company, a privately held manufacturer of metallic and polymer spring energised seals, in a cash for stock transaction. Terms of the deal were not disclosed.
Advanced Products will be integrated with Parker’s Seal Group, which provides sealing materials to a broad range of motion and control markets worldwide.
With operations in North Haven, Connecticut, and Boom, Belgium, Advanced Products employs 150 people worldwide and has annual sales of approximately $20 million.
The company provides seals for a variety of applications including gas turbines, oil and gas exploration equipment, aerospace and submarine vehicles, diesel engines and turbocharger systems.
“We have enjoyed being a customer of Advanced Products for seals formerly not available in our product line,” said Heinz Droxner, President of the Parker Seal Group. “Now we look forward to the opportunities presented by combining their leading technologies, particularly in high temperature resilient metallic seals, with our global marketing and distribution capabilities.”