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Parker Hannifin Grabs Filtration Maker In $4.3B Deal

Law360, New York (December 1, 2016, 2:22 PM EST) -- Parker Hannifin Corp. said Thursday that it would buy Clarcor Inc., a maker of filtration products, for $4.3 billion in cash, including debt, bolstering the industrial equipment manufacturer’s filtration offerings and expanding its U.S. presence.

Clarcor, which makes mobile, industrial and environmental filtration products, will give Parker stronger industrial air and liquid filtration offerings. Parker already has a strong international presence and the move will give it an opportunity to increase its footprint in the U.S., according to a statement on Thursday.

“This strategic transaction is...
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