CLEVELAND (July 10) — Parker Hannifin Corp. has acquired Acofab S.A.S. — a leading European supplier of electromagnetic interference shielding and thermal management products — and its common majority shareholder Adecem SARL.
Revenues of the acquired business totaled approximately $12.9 million in 2005. Earnings are expected to be accretive to Parker in first full year. Terms of the deal were not disclosed.
Acofab, located outside of Paris, employs 64 people in the production of highly engineered EMI shielding gaskets and accessories, conductive thermoplastics, thermal management materials, HF absorbers, dielectric materials and sealing gaskets. Major markets for the company include telecom, military and consumer electronics.
The business will be integrated into Parker´s Chomerics Division, a unit of the company´s global Seal Group. "The value-added solutions, technical expertise and strong customer relationships provided by Acofab have enabled them to develop a reputation as specialists in EMI shielding and thermal management in their focused markets," said Heinz Droxner, President of Parker´s Seal Group. "This acquisition will enable Parker to better serve the needs of our European based customers and the ever expanding global electronics market."