Jones Day has advised Parker Hannifin Corporation, the global leader in motion and control technologies, in its acquisition of Helac Corporation.
Helac specializes in the design and manufacture of helical rotary actuators, known for their tremendous torque output, compact dimensions, exceptional load bearing capability and rugged, reliable performance. Helac also manufactures a line of attachments primarily for use in material handling and construction equipment markets.
Terms of the transaction were not disclosed.
Helac had revenues of approximately $75 million with 300 employees in its fiscal year ending June 30, 2016. The acquired company will become a business unit of Parker’s Cylinder Division within the Hydraulics Group with sales reported in Parker’s Diversified Industrial segment.
Jones Day has advised Parker Hannifin Corporation in its acquisition with a team led by Cleveland-based M&A partner Patrick Leddy.
Involved fees earner: Patrick Leddy – Jones Day;
Law Firms: Jones Day;
Clients: Parker Hannifin;