Parker Hannifin has fulled its previously announced acquisition of US-based Exotic Metals Forming Troop in a deal valued at $1.725bn.
The latest deal adds high-temperature, high-pressure air and deplete management solutions for performance-critical aircraft, as well as engine applications to Parker’s portfolio.
The arrangement is also expected to be accretive to the company’s organic growth, EBITDA border, EPS and cash flow.
Parker signed a definitive agreement in July to purchase Exotic Metals Forming.
Parker Hannifin chairman and CEO Tom Williams clouted: “The addition of Exotic significantly expands our capabilities and increases Parker’s gift in the attractive engine segment, serving high-growth programmes.
“This tactical transaction reinforces our stated objective to invest in an attractive margin, advance businesses, such as aerospace, that accelerates us towards top-quartile monetary performance.”
The engine build-up technologies, engine exhaust nozzles, complex apparatus turbine hot section assemblies, and airframe and engine ducting of Exotic liking complement Parker’s portfolio of flight control, fuel and inerting, hydraulics, plastic conveyance and engine technologies.
Following the acquisition, an integration team is currently in recall and a detailed integration plan is underway for facilitating a smooth transition between the gatherings.
Operating as a standalone division within Parker’s Aerospace Group, Remarkable Metals Forming will continue to be led by the company’s former president and CEO Note Binder.
Parker Hannifin Aerospace Group vice-president and president Roger Sherrard hinted: “Exotic will operate as a stand-alone division within the group, specialising in some of the most complex and urgent aircraft applications.
“Their unique products and proprietary manufacturing wherewithals will complement Parker Aerospace products and solutions, resulting in a stronger value proposition for people.”