Parker Hannifin acquires Snap-tite

Parker Hannifin Corporation has acquired Erie, Pennsylvania based Snap-tite Incorporated, a manufacturer of high pressure fluid power components for oil & gas, research and industrial markets. Transaction terms have not been disclosed.

 
 
Snap-tite will be integrated into Parker’s Instrumentation and Fluid Connector groups of the Industrial Segment with 64% of sales being reported as North America Industrial and 36% reported as International sales. Snap-tite currently employs 500 people in its Erie and Union City, PA, Houston, Texas and Wexford, Ireland operations and has approximately US100 million in annual sales.
 
 
Snap-tite President and CEO, John Clark said, “As a third generation family business, we are proud of the accomplishments of everyone involved in growing Snap-tite from its inception in 1935 until today. We are pleased to be able to hand over stewardship of this legacy to Parker and are confident in the growth opportunities which will be created within their decentralized and entrepreneurial business culture.”
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