Parker-Hannifin to divest its North American CFC Division to SK Capital Partners

Parker Hannifin announced it has signed an agreement to divest its North America Composites and Fuel Containment, or CFC, Division to private investment firm SK Capital Partners. With the completion of this transaction the company will have successfully divested businesses and product lines over the past three years that total nearly $450M in annual sales. The transaction is subject to customary closing conditions. Parker’s CFC Division is headquartered in Erlanger, Kentucky and has five additional locations in the U.S. and Mexico,with annual sales of approximately $350M. It became part of Parker’s Diversified Industrial Segment, North America businesses following the acquisition of Meggitt plc in 2022. CFC is a leading manufacturer of composites, fuel tanks and bladders. Parker has also completed the divestiture of several other businesses or product lines over the past 36 months, including: France Electromechanical Solutions Division; MicroStrain Division; Filter Resources Division; the Calzoni product line; the Industrial Profile Systems product line; and the Indego exoskeleton product line.