MAYFIELD HEIGHTS, Ohio—Parker Hannifin Corp. of Mayfield Heights has acquired Jager Automobil-Technik GmbH and Jager Automotive Polska Sp. z.o.o. from Hanover, Germany-based Arnold Jager Holding GmbH, the company announced in a news release.
Terms of the acquisitions were not disclosed.
The release called the Jager group “a pioneer in rubber to plastic direct bonded sealing systems for automotive markets and a leading developer of two-component (2K) direct injection molding technology,” noting that the two acquired businesses' products are used to “seal and protect” automotive systems components.
The two acquired businesses have combined annual sales of about $45 million and almost 250 employees. They will become part of the Prädifa Technology Division in Parker's Engineered Materials Group and revenue will be reported under the motion and control technologies company's Diversified Industrial Segment.
Jennifer Parmentier, vice president and president of the Engineered Materials Group, said in the release that this acquisition gives Parker “innovative injection molding technology,” and that the company is looking to expand the use of that technology to other end markets.