Parker Hannifin to acquire LORD for $3.7bn.

Parker Hannifin, a provider of motion and control technologies, agreed to acquire LORD, a provider of broad array of advanced adhesives, coatings and specialty materials as well as vibration and motion control technologies, for $3.7bn. “This strategic transaction will reinforce our stated objective to invest in attractive margin, growth businesses, such as engineered materials, that accelerates us towards top-quartile financial performance. LORD will significantly expand our materials science capabilities with complementary products, better positioning us to serve customers in growth industries and capitalize on emerging trends such as electrification and lightweight," Tom Williams, Parker Chairman and Chief Executive Officer.