Parker Hannifin Acquires Fluidics Firm

In announcing the acquisition, Parker Hannifin noted that life sciences is a less cyclical than other end-markets.

Cleveland, OH 10/1/08—Parker Hannifin has purchased Hargraves Technology. Hargraves designs and manufactures miniature liquid and pneumatic diaphragm pumps, control valves and system solutions for medical devices, life science analytical instruments, as well as diagnostics, gas detection and printing systems. Based in Mooresville, North Carolina, Hargraves had 2007 sales of $14 million. Parker Hannifin will form a Precision Fluidics Division by combining its platforms for diaphragm pumps, miniature solenoid and proportional valves, electronic pressure controls, liquid and aggressive media valves, and system integration capabilities.

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