Parker Hannifin Acquires Titan Industries
A Titan dredge discharge hose with custom-made Ellicott flanges, awaiting shipment to an Ellicott customer.
Headquartered in South Gate, California, Parker Titan manufactures custom and composite hoses for the dredging industry and other industrial applications. The company has another manufacturing facility in Salisbury, North Carolina, and sales offices in Houston, Texas and Arvada, Colorado.
Titan is now a member of Parker’s Industrial Hose Products Division, in the company’s international Fluid Connectors Group.
Donna Kansteiner remains on board in her Arvada, Colorado office as a designer and cost estimator for custom dredge hose, which continues to be a major part of the Parker Titan’s business. She quotes on hoses and sleeves for suction and discharge applications, which the company builds in four to 18-inch diameter, of 3/8 and 1/2-inch natural rubber with SBR covering.
The dredge hose manufacturing equipment from the Commerce City, Colorado facility was shipped to the South Gate and Salisbury locations.
In 2007, Titan achieved sales of $28 million. The company employs 150 people.
A Parker Hannifin representative stated that the acquisition of Titan has strengthened Parker’s position in the industrial hose market by expanding the product line and bringing the marine, aircraft, food and dock side refueling markets into its customer base. The acquisition is expected to be accretive to earnings within its first year of operation. Titan’s results will be reported within the Industrial North America segment. Terms of the deal were not disclosed.