Parker Hannifin announced it will be acquiring the assets of Sea Recovery from Danfoss in order to strengthen its positions in seawater desalination for marine applications. Sea Recovery will become a part of Parker's Filtration Group on Nov. 1. Terms of the purchase were not disclosed.
Parker, a motion and control technology manufacturer, made $13 billion in sales revenue for 2012, and has about 60,000 employees in 48 countries worldwide.
"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 Peter Popoff, president of the Filtration Group. "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, a provider of marine and commercial offshore watermakers, has made $26 million in sales revenue over 12 months ending Aug. 31, and employs 70 people.
"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," Nis Storgaard, chief development officer at Danfoss.