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

German molder picks North Carolina for US manufacturing plant

February 26, 2015 4:21 pm ET

UPDATED — German medical goods company Raumedic AG has chosen Mills River, N.C., for its first U.S. manufacturing site and U.S. headquarters.    More

Image

Ferro acquires TherMark Holdings for $5.5 million

February 26, 2015 12:15 pm ET

Ferro Corp. said it acquired privately held TherMark Holdings Inc., a laser marking technology company, for $5.5 million in cash.    More

Image

Serbia puts Krušik-Plastika up for sale

February 26, 2015 11:39 am ET

The Serbian Privatization Agency has launched the privatization process for local plastics maker Krušik-Plastika. The agency says it is...    More

Image

3i to sell specialty chemicals company Azelis to Apax Partners

February 26, 2015 11:36 am ET

Azelis Holding SA, the specialty chemicals distributor, is being sold by its private equity owners 3i Group plc to another private investment outfit, ...    More

Image

Amut buys Dolci and Bielloni

February 25, 2015 3:41 pm ET

Amut SpA, the Novara, Italy-based maker of extruders, thermoforming machines and plastics recycling equipment, has acquired the Italian company that m...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

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

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

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

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

More Events