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Parker Hannifin buys Sterling Hydraulics

01 November, 2005

Parker Hannifin buys Sterling Hydraulics

Parker Hannifin has bought the Crewkerne-based mobile hydraulics manufacturer, Sterling Hydraulics, from Sterling Industries (itself owned by Caledonia Investments), for an undisclosed sum.

Sterling specialises in designing and manufacturing hydraulics products - in particular, custom screw-in cartridge valves and manifold systems - for mobile applications. It employs nearly 300 people and generated sales of around £23.6m in the year to March 2005. It has facilities in Chicago, US, as well as the UK.

"Sterling has developed an international reputation as an independent hydraulics specialist, and is ready to expand beyond its traditional markets," says the company`s managing director, Tim Hair. "We are confident that Parker`s global reach will accelerate this process and create new opportunities for the business."

"We look forward to working with Sterling and growing our product offering together," adds Lee Banks, president of Parker`s Hydraulics Group. "We have a number of customers in common in the mobile hydraulics marketplace who will welcome this extension of our product line, as well as the greater market presence in Europe and Asia".




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