Investments: Parker to acquire Curtis for US$1 bn; Indorama subsidiary secures US$1.5 bn term loan
Motion/control tech major Parker Hannifin Corporation recently announced that it has agreed to acquire Curtis Instruments from Rehlko, for approximately US$1 billion in cash. The transaction is subject to customary closing conditions, including receipt of applicable regulatory approvals, and is expected to close by the end of calendar year 2025.
Curtis designs and manufactures motor speed controllers, instrumentation, power conversion and input devices that complement Parker’s strength in electric vehicle motors, hydraulic and electrification technologies. Curtis expects calendar year 2025 sales of approximately US$320 million.
“This transaction is aligned with the long-term electrification secular trend and meets our disciplined financial criteria for acquisitions designed to create shareholder value,” said Jenny Parmentier, Chairman/CEO. “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. Using our proven business system, The Win Strategy, we believe we can deliver strong operational synergies, creating shareholder value.”
Rehlko and its financial sponsor Platinum Equity praised the deal and the synergy between Parker and Curtis.
“Rehlko is proud of the legacy and performance of Curtis as a high-performing, innovation-driven business,” said Brian Melka, President/CEO of Rehlko. “Parker is an exceptional company and we are confident Curtis will thrive from Parker’s increased scale, focus, and investment.”
In other news, integrated chemical firm Indorama Ventures Public Company Limited has announced that its subsidiary, Indovinya Ltd., successfully raised US$1.5 billion through a syndicated term loan to refinance debt and strengthen the business segment’s capital structure.
The five-year senior unsecured syndicated term loan was achieved at favourable rates, strengthening Indovinya’s credit profile and reflecting financial markets’ confidence in the segment’s strong management and position in High Value Add (HVA) markets.
The funds will be used to refinance debt and recapitalise Indovinya’s capital structure. The term loan, which will mature in 2030, was arranged by a syndicate of eight leading financial institutions, including Mizuho Financial Group, Bank of China (Hong Kong), Oversea-Chinese Banking Corporation Limited (OCBC), The Siam Commercial Bank Public Company Limited, Kasikornbank Public Company Limited, Sumitomo Mitsui Banking Corporation, DBS Group, and Australia and New Zealand Banking Group Limited.
Indovinya has scaled rapidly in recent years. The segment’s 15 industrial units, seven R&D centres, and ten commercial offices in key growth markets globally deliver high-value, sustainable solutions across critical industries, from Crop Solutions and Energy Resources to Home & Personal Care, Coatings, and Performance Products. The segment is the leading producer of nonionic surfactants in the Americas.
(PRA)SUBSCRIBE to Get the Latest Updates from PRA Click Here»
