Parker Hannifin to acquire Curtis Instruments from Platinum Equity-backed Rehlko for $1bn.

Parker Hannifin, a producer of hydraulic and pneumatic systems, agreed to acquire Curtis Instruments, a manufacturer of motor speed controllers, from Platinum Equity-backed Rehlko, a holding company, for $1bn. “This transaction is aligned with the long-term electrification secular trend and meets our disciplined financial criteria for acquisitions designed to create shareholder value. Curtis adds complementary technologies to our existing industrial electrification platform, better positioning us to serve our customers as they continue the adoption of more electric and hybrid solutions. We anticipate a smooth closing and look forward to welcoming the Curtis team," Jenny Parmentier, Parker Hannifin Chairman and CEO.