Parker Hannifin Corp. announced Nov. 4 that it has acquired Nexgen Hose Inc., a Fergus, Ontario-based maker of industrial hose and tubing.
Terms were not disclosed. Nexgen's products are used in medical, agriculture, mining, diving, potable water/beverage and fire suppression industries.
Nexgen employs 40 and recorded 2007 sales of $7.2 million.
``Nexgen strengthens Parker's position in the North American industrial hose market, broadening our total product offering with the addition of PVC hose and tubing,'' said Bob Bond, president of Parker's Fluid Connectors Group.
David Tomlinson founded Nexgen in 1998. The company grew as thermoplastic elastomers and thermoplastic vulcanizates replaced cross-linked rubber in hose products. He said the deal combines Nexgen's ``unique manufacturing capabilities and Parker's extensive infrastructure and [sales] channels.'' He added that he expects Parker to continue to develop the business.
Cleveland-based Parker Hannifin has annual sales exceeding $12 billion, primarily in motion and control technologies and systems.
The company also announced two nonplastics acquisitions Nov. 4: Aqua Pro Inc., a California-based manufacturer of reverse osmosis filtration systems for military, commercial and pleasure marine uses; and Midmark Corp.'s Matrx-brand nitrous oxide delivery systems product line.
