CLEVELAND (Oct. 22)—Parker Hannifin Corp. bought the assets associated with the global fluid management business of Dayco Industrial from Mark IV/BC Partners on Oct.19. Terms of the deal were not disclosed. The Dayco assets include Imperial-Eastman products and a wide array of hydraulic and industrial hose and connectors, as well as proprietary compounding technologies for a broad range of applications, a company statement said. The operations, which will be integrated into Parker's fluid connectors business, have 2,365 employees and 29 facilities in the U.S., Canada, Australia and the United Kingdom. "This business adds important new products to our fluid connectors line and fully complements Parker's broader capabilities," said Parker Operating Officer Jack Myslenski. "The industrial products bring us a unique opportunity to merge technologies and assist customers in supplier rationalization." Mark IV placed the Dayco Industrial business up for sale June 12. The firm split its power transmission products (V-belts, pulleys and sprockets) and fluid management products (hose, fittings and assemblies.)
Parker buys Dayco Industrial business
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