CLEVELAND
- Parker Hannifin Corp. acquired Micro Thermo Technologies from Carrier Corp.
Micro Thermo Technologies, based in Quebec, manufactures refrigeration controls
and energy management systems for supermarket applications. The terms of the
transaction were not disclosed. The acquisition is expected to be accretive to
earnings in its first full year of operations.
Micro Thermo Technologies had sales of approximately $10 million for the year
ended Dec. 31, 2009, and employs approximately 50 people. Sales will be
reported in Parker’s Climate and Industrial Controls segment, and the acquired
company will be integrated into the electronics business unit of Parker’s Sporlan
division.
“This acquisition strengthens our ability to establish the most complete range
of electronic and mechanical control systems for supermarket refrigeration and
HVAC systems,” said Tom Healy, president of Parker’s Climate and Industrial Controls
Group.
“Micro Thermo Technologies has built a strong reputation for quality electronic
controls in markets that are complementary to our Sporlan brand mechanical
controls markets in North America. These combined capabilities extend our position
as a systems provider to our customers and can help drive growth in this part
of our business.”
Publication date:09/20/2010
