Parker Hannifin hires multiple top firms for its $9.25bn acquisition of Filtration Group
Parker Hannifin has instructed teams from Paul Hastings, Jones Day and Eversheds Sutherland to advise on its agreement to acquire Filtration Group from Madison Industries. The companies announced the deal with a stated value of 9.25 billion dollars on a cash free and debt free basis. The figure reflects a reported 19.6 times multiple on Filtration Group’s estimated adjusted EBITDA for the 2025 calendar year.
Jones Day is acting as principal deal counsel for Parker, while Eversheds is serving as the company’s European legal counsel. Paul Hastings is advising Filtration Group. According to the announcement, Parker expects to finance the purchase through a combination of new debt and existing cash reserves. The parties anticipate that the transaction will complete within a period of six to twelve months.
The Jones Day team advising Parker is led by M and A partners Patrick Leddy and Jared Hasson, both based in Cleveland. The Eversheds team is led by M and A partner Amanda Partland, who also advised Parker earlier in the year on its approximate one billion dollar acquisition of motor speed controller manufacturer Curtis Instruments. Jones Day advised Parker on that transaction as well.
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Paul Hastings is representing Filtration Group with a team led by private equity co chair Brian Richards. He is joined by partners Jade Alexandra Fearns, Michael Murray, Keith Schomig, Ziemowit Smulkowski and Holly Snow.
Parker Hannifin operates across sectors including aerospace, HVAC and life sciences. The company said that the acquisition forms part of its continuing investment in high quality businesses. In a statement, Parker’s chairman of the board and chief executive officer, Jenny Parmentier, said the transaction would support the transformation of its portfolio, accelerate sales growth and improve profitability. She stated that the acquisition would create one of the largest industrial filtration businesses in the world. She added that Filtration Group’s capabilities and its established aftermarket presence would enhance Parker’s ability to serve customers internationally.
Filtration Group’s president and chief executive officer, Jon Pratt, said that Parker is an exceptional company. He stated that the business would benefit from Parker’s increased scale, technical knowledge and approach to growth and operational excellence.
Parker Hannifin has estimated that the deal will generate pre tax cost synergies of about 220 million dollars by the end of the third year following completion of the transaction. The companies did not provide further detail on the nature of the anticipated synergies but presented the figure as part of the overall financial rationale behind the transaction.
Barclays is acting as financial advisor to Parker Hannifin. Lincoln International is serving as financial advisor to Filtration Group.
No additional details have been released beyond the parties’ statements and the confirmation of the advisory teams involved in the transaction.