Parker Hannifin Corporation has announced that it has signed an agreement to acquire Sea Recovery from Danfoss A/S. Parker will assume ownership of the acquired business on November 1, 2012. Headquartered in Compton, CA, Sea Recovery is a leading manufacturer of small to high capacity reverse osmosis systems for sea water desalination used primarily in commercial and pleasure marine applications. Parker Hannifin Corporation is a global leader in motion and control technologies.
“This acquisition supports our water purification growth strategy and further strengthens Parker’s global leadership position in creating fresh water for commercial marine and large yacht markets,” said President of Filtration Group, Peter Popoff. “Sea Recovery product lines help Parker expand its offering across geographic and end market applications. Their dedicated global sales and service organization is a strategic fit with our existing world class distribution network and will enable Parker to provide customers with the most advanced seawater desalination systems anywhere in the world.”
Sea Recovery has been engineering and manufacturing sea water reverse osmosis systems since 1981. The acquired company will become a part of Parker’s Filtration Group and approximately 47 per cent of revenues will be reported in the North American Industrial segment and the remaining 53 per cent of revenues will be reported in the International Industrial segment.
“We are happy that we have found a new owner that is ready to support Sea Recovery and its employees to further develop and grow the business,” said Nis Storgaard, Danfoss Chief Development Officer.
With annual sales exceeding $13 billion in fiscal year 2012, Parker Hannifin is the world’s leading.