Parker-Hannifin Corp. announced Thursday that it has completed its purchase of Curtis Instruments from Rehlko for roughly $1 billion.
The deal was originally announced in late June.
Parker officials reiterated last week that the company expects sales of Curtis’ motor speed controllers, instrumentation, power conversion and input devices to amount to about $320 million this year, and that the deal would complement Parker’s hydraulic, pneumatic and automotive capabilities.
“We welcome the Curtis team to Parker and look forward to building on our combined strengths to create accelerated growth opportunities,” Parker Chairman and CEO Jenny Parmentier said in a statement. “We have formed an integration team involving team members from both organizations.”
Berend Bracht, president of Parker’s Motion Systems Group, called Curtis a “high-performing, innovation-driven business.”
“Curtis adds complementary technologies to our existing electrification platform, better positioning us to serve our customers as they continue the adoption of more electric and hybrid solutions,” Bracht said.
