CLEVELAND—Park-Ohio Holdings Corp. said its Fluid Routing Solutions business has acquired most of the assets of Bates Acquisition L.L.C. and Bates Real Estate Acquisition L.L.C. of Lobelville, Tenn.
Park-Ohio did not say what it paid for Bates, which makes extrusion, formed and molded products including air and fluid transfer hoses and assemblies, emission management subsystems, thermoplastic hose and molded components and gaskets for the transportation and industrial markets.
In commenting on the transaction, Edward F. Crawford, Park-Ohio chairman and CEO, said Bates "is another example of a look-alike acquisition that fits with Park-Ohio's current goal of growing its three business silos."
Cleveland-based Park-Ohio is a provider of supply management services and a maker of engineered products. It operates 37 manufacturing sites and 45 supply chain logistics facilities throughout North America, Europe and Asia.