Park-Ohio buys Tennessee-based hose manufacturer

CRAIN'S CLEVELAND BUSINESS

Published: April 30, 2013 1:40 pm ET
Updated: April 30, 2013 1:41 pm ET

Related to this story

Topics Mergers & Acquisitions, Pipe/Profile/Tubing, Extrusion

CLEVELAND — Park-Ohio Holdings Corp. said its Fluid Routing Solutions business has acquired most of the assets of Bates Acquisition LLC and Bates Real Estate Acquisition LLC of Lobelville, Tenn.

Park-Ohio did not say what it paid for Bates, which makes extrusion, formed and molded products including air and fluid transfer hoses and assemblies, emission management subsystems, thermoplastic hose and molded components and gaskets for the transportation and industrial markets.

In commenting on the transaction, Edward F. Crawford, Park-Ohio chairman and CEO, said Bates "is another example of a look-alike acquisition that fits with Park-Ohio's current goal of growing its three business silos."

"Bates has been in the business over 40 years and has been servicing a great list of customers with an experienced work force," Mr. Crawford said. "We expect the annual revenues from Bates to exceed $45 million and be accretive to Park-Ohio earnings."

Cleveland-based Park-Ohio is a provider of supply management services and a maker of engineered products. It operates 37 manufacturing sites and 45 supply chain logistics facilities throughout North America, Europe and Asia.


Comments

Park-Ohio buys Tennessee-based hose manufacturer

CRAIN'S CLEVELAND BUSINESS

Published: April 30, 2013 1:40 pm ET
Updated: April 30, 2013 1:41 pm ET

Post Your Comments


Back to story


More stories

Image

Residents ask court to close pipe maker

November 21, 2014 3:22 pm ET

Residents living by National Pipe & Plastics Inc.'s new factory in an industrial zone of Endicott, N.Y., say the facility has “devastated the...    More

Image

Coveris changes culture, eyes IPO

November 20, 2014 1:40 pm ET

CEO Gary Masse has a simple message, and some new math, for everyone at Coveris Holdings Corp. Get on board or get out of the way.    More

Image

Total to buy majority stake in Polyblend

November 20, 2014 10:04 am ET

French oil and gas giant Total SA will buy a 68 percent stake in Germany's Polyblend GmbH, a subsidiary of Polymer-Chemie GmbH.    More

Image

Vinyl records refuse to fade out

November 18, 2014 3:37 pm ET

The recording industry is taking vinyl for a spin. Again. Twenty-five years ago when Plastics News was ramping up printing presses, record presses...    More

Image

Private equity fuels acquisition market

November 18, 2014 11:52 am ET

Plastics firms and outside investors with money to spend increasingly have done so in the plastics industry for the last quarter-century — and p...    More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events