List Your Equipment For Free  /  Seller Login

Parker Acquires Helac Corporation

Wed March 15, 2017 - National Edition
Construction Equipment Guide


Parker Hannifin Corporation, today announced that it has acquired Helac Corporation, headquartered in Enumclaw, WA. Helac specializes in the design and manufacture of helical rotary actuators, known for their tremendous torque output, compact dimensions, exceptional load bearing capability and rugged, reliable performance. Helac also manufactures a line of attachments primarily for use in material handling and construction equipment markets. Terms of the transaction were not disclosed.

“Helac is a pioneer in the development of helical rotary actuators and represents a strategic addition to our world-leading hydraulics product portfolio offering customers solutions in a wide variety of markets,” said Andy Weeks, President of the Parker Hydraulics Group. “We are excited about the opportunities to strengthen Parker's position in key growth markets and expand the reach of Helac products through Parker's global sales channels.”

Helac had revenues of approximately $75 million with 300 employees in its fiscal year ending June 30, 2016. The acquired company will become a business unit of Parker's Cylinder Division within the Hydraulics Group with sales reported in Parker's Diversified Industrial segment.

“As we looked at options for future growth we sought a partner that shares our deep commitment to innovation, serving our customers' needs and delivering high quality products and services,” said Dean Weyer, CEO Helac Corporation. “Parker Hannifin has all of those qualities along with an entrepreneurial culture and decentralized operating model that will allow Helac employees to thrive and grow. We are excited for the future of our business working in concert with such a well-respected global leader in hydraulics.”

For more information, visit www.parker.com




Today's top stories

Des Moines Airport Works With Weitz/Turner On Expansion

ROMCO Equipment Co., SMT Acquire Bee Equipment Sales

San Francisco County Transportation Authority Bridges Retrofit Addresses Seismic Safety

Year in Review: Bobcat's Major Moments of 2024

MassDOT to Use Drones for Infrastructure Projects; Amherst Exploring New Downtown Designs

Iowa DOT's I-35 Project Includes New Bridges

JM Wood Holds December Auction in Montgomery, Alabama

DEVELON Set to Exhibit at ARA Show 2025


 







39.95234 \\ -75.16379 \\ Fort Washington \\ PA