25 July 2012
Charles Russell has acted for the shareholders and founders on the disposal of the entire issued share capital of Kittiwake Developments Limited to Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies. Kittiwake Developments is a leading manufacturer of condition monitoring technology including wear debris sensors, oil testing and analysis instrumentation and acoustic, vibration and gas emissions monitoring sensors. These products are used alongside filtration technology in the commercial marine, oil and gas, power generation and defence markets.
The business acquired by Parker has annual sales of approximately USD 20 million and employs 95 people. Kittiwake Developments will be integrated into Parker's Filtration Group.
The multi-disciplinary Charles Russell team was led by corporate partner Mark Howard.
Mark said: "Having acted for Kittiwake Developments Limited for a number of years, we are delighted to have advised the shareholders and founders on this successful exit transaction. We wish the company every success as it continues its development within Parker's Filtration Group."
Mark Howard, Partner
Tel: +44 (0)20 7203 8902
Daryl Atkinson, Marketing Director
Tel: +44 (0)20 7203 5119
Heledd Phelps-Brown, Director
Citigate Dewe Rogerson
Tel: +44 (0) 20 7282 2843