Parker Hannifin Corp., makers of motion and control technologies, announced on June 3 that it has acquired Titan Industries, a manufacturer of industrial rubber, custom-made and composite hoses for fluid and material transfer as well as related products, services and accessories.
Headquartered in South Gate, Calif., Titan has additional locations in Houston, Texas and Salisbury, North Carolina, employs 150 people and achieved sales of $28 million in 2007. The acquisition of Titan strengthens Parker Hannifin's position as a leader in the industrial hose market by substantially expanding the product offering and providing entrance into the marine, aircraft, food and dockside refueling markets. Terms of the deal were not disclosed.
Titan will be integrated into Parker Hannifin's Industrial Hose Products Division, part of its worldwide Fluid Connectors Group, complementing a broad line of hose products designed to meet the many demands of the industrial marketplace; including chemical, petroleum, air, water, cement and material handling applications.
Bob Bond, president of Parker Hannifin's Fluid Connectors Group, said Titan has always been recognized as a leader in the Industrial Hose business, providing premier customer service and innovative products to the marketplace.
"Its custom-made hose operations in California and North Carolina specialize in designing and fabricating products that expand Parker's strategic product portfolio," Bond said. "With Parker and Titan teamed together, customers can be assured of hose assemblies that will deliver maximum life, reliability, and productivity. The combined strength of the two companies will further our ability to engineer complete hose systems and improve the productivity and profitability of our customers."
Titan president Todd Mackey added that Parker Hannifin's quality products, reputation and distributor alliances will dramatically enhance Titan's position in North America and elsewhere in the world.
"We are excited to be a part of the Parker family, and look forward to making a significant contribution to the Fluid Connectors Group sales and profitability in the years to come," Mackey said.