Posted to News on 23rd Mar 2009, 13:45
Parker Hannifin acquires Aqua Pro
Parker Hannifin is acquiring Aqua Pro, the manufacturer of reverse osmosis (RO) filtration systems for marine applications. The acquisition will enhance Parker's already diverse range of products and services for the marine sector, while allowing customers of Aqua Pro to benefit from Parker's engineering expertise and global support network.
Aqua Pro is also known as Village Marine Tec and Offshore Marine Laboratories, with sales and service locations in California, Florida, Hawaii, Virginia and Washington. The company sells to original equipment manufacturers including boat and ship builders, independent distributors, the USA military and end users. Aqua Pro's product line includes RO systems for the military, on board submarines and land applications, as well as offshore oil rigs, work boats, fishing vessels and pleasure boats.
Peter Popoff, President of the Filtration Group for Parker Hannifin, says: "Aqua Pro is recognised as the leader in on-board marine reverse osmosis products and their innovative, engineered systems are currently in use on the most advanced naval vessels and premier motor yachts. Expansion of the current business as well as additional applications in aerospace, biosciences, and industrial filtration will complement our existing products in growth markets. The Aqua Pro product line will contribute to the sales growth of Parker Filtration's global operations including our Racor Division and widely accepted marine filtration systems."
Robert Kershaw Snr, President and CEO of Aqua Pro, comments: "For over 30 years, Aqua Pro has been dedicated to advancing the technology of reverse osmosis water filtration. We are pleased that our state-of-the-art systems and products will now serve broader markets on a global scale. We are proud to pass this legacy on to a financially solid, innovative company and to be associated with the Parker brand and the popular Racor products."
Aqua Pro's sales for fiscal 2008 were $33million. The acquisition is expected to be accreditive to earnings within its first year following acquisition and its results will be reported as a component of Parker's Industrial North America segment. Terms of the acquisition were not disclosed.
