Parker Hannifin Corporation, a global leader in motion and control technologies, has expanded its cryogenic valve capability by the acquisition of Bestobell Valves as part of President Engineering Group Limited (PEGL), based in Sheffield, U.K. Adding Bestobell to its family strengthens Parker’s product portfolio to service the global trend of LNG as a marine, rail and road fuel.
PEGL specializes in the design and manufacture of technically advanced, precision engineered cryogenic valves for liquefied natural gas (LNG) and Industrial Gas applications and specialized equipment for mining safety applications. Terms of the transaction were not disclosed.
PEGL had revenues of 19 million pounds (approximately USD 29 million) in its latest financial year and 120 employees. Their products, including the Bestobell, Conflow and Bretby Gammatech brands, assist in the acquisition, transport and storage of LNG and help monitor and suppress dust and ash during mining operations. PEGL is a recent recipient of Britain’s prestigious Queen’s Award for International Trade and British Chamber of Commerce Manufacturer of the Year title.
The acquired company has become a part of Parker’s Instrumentation Group and approximately 40 percent of revenues will be reported in the North American Diversified Industrial business and the remaining 60 percent of revenues will be reported in the International Diversified Industrial business.
Parker now had a complete range of CNG and LNG valves and regulators as well as fuel metering and mixing valves for the precise control of fuel flow for natural gas and dual fuel engine.
“The addition of PEGL provides product and manufacturing technologies and expanded systems capabilities along with solid brand names,” said John Greco, Vice President and President – Instrumentation Group. “This acquisition will strengthen Parker’s position in the LNG, Industrial Gas and Mining markets. We are excited about the opportunities to combine our organizations and extend more solutions to our customers.”
Bestobell Valves supplied cryogenic valves to Canada’s first LNG-fuelled ferry – the MV Armand-Imbeau II, which has recently been launched.
Parker Hannifin is a manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of mobile, industrial and aerospace markets. Parker Hannifin is also a Corporate Sponsor of NGV Global.
(Source: Parker Hannifin Corporation)