Parker Hannifin Corporation said it has completed the transaction to acquire President Engineering Group based in Sheffield, U.K.
PEGL specializes in the design and manufacture of cryogenic valves for liquefied natural gas and industrial gas applications and specialized equipment for mining safety applications. Terms of the transaction were not disclosed.
PEGL, that includes brands, Bestobell, Conflow and Bretby Gammatech that assist in the acquisition, transport and storage of LNG and help monitor and suppress dust and ash during mining operations, had revenues of 19 million pounds in its latest financial year.
The acquired company has become a part of Parker’s Instrumentation Group and approximately 40 percent of revenues will be reported in the North American Diversified Industrial business and the remaining 60 percent of revenues will be reported in the International Diversified Industrial business.
Image: Parker Hannifin Corporation