Parker Agrees to Sell North America Composites & Fuel Containment Division

Core Viewpoint - Parker Hannifin Corporation has announced the divestiture of its North America Composites and Fuel Containment (CFC) Division to SK Capital Partners, indicating a strategic assessment of ownership for business success [1][2]. Company Overview - Parker Hannifin is a global leader in motion and control technologies, with a history of over a century in enabling engineering breakthroughs [7]. - The CFC Division, headquartered in Erlanger, Kentucky, generates annual sales of approximately $350 million and specializes in manufacturing composites, fuel tanks, and bladders [2]. Recent Divestitures - Over the past three years, Parker has divested businesses and product lines totaling nearly $450 million in annual sales, including several divisions such as France Electromechanical Solutions and MicroStrain® [1][3]. Transaction Details - The transaction with SK Capital Partners is subject to customary closing conditions and is part of Parker's broader strategy to evaluate the best ownership for its businesses [1][4].