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2040

Parker Hannifin History

The Parker Journey

We invite you to take a journey with us. A journey begun with daring individual tenacity and shaped by remarkable collective accomplishments. A journey peppered with hardships and decorated with soaring successes. A journey from a two-person enterprise to one of the greatest companies in the world.

It’s the story of Parker.

Welcome.

Parker Founded

1917

Birth of the Company

Art Parker founded the Parker Appliance Company in Cleveland, Ohio. The machine shop built pneumatic brake systems for trucks, trains, buses and industrial machinery.

Traumatic Loss

1919

Traumatic Loss

Traveling to a trade show, a trailer carrying the Company’s entire inventory fell off a cliff east of Pittsburgh. Art was determined to rebuild.

Crossing the Ocean

1927

Crossing the Ocean

Parker’s fuel system was on board Charles Lindbergh’s The Spirit of St. Louis for the first ever Transatlantic flight. So began Parker’s relationship with the aerospace industry that continues today.

Early Expansion

1934

Early Expansion

Orders from the aviation industry helped Parker survive the Great Depression. For the rest of his life, Art was proud that despite hard times, employees received steady paychecks.

Parker bought the former Hupp Automobile plant, a 450,000 square-foot building on Euclid Avenue in Cleveland.

Winning the War

1939

Winning the War

With 40 patents and sales of $3 million in 1939, Parker responded to World War II by focusing on just one customer—the U.S. government.

As a result, Parker grew from 910 employees in 1940 to 2,600 in 1941. Sales increased 700%.

End of an Era

1945

End of an Era

Art Parker died suddenly on New Year’s Day. To keep the Company running, Helen Parker reinvested the proceeds from Art’s $1 million life insurance policy back into the Company. She hired new management and together they decided to diversify.

Becoming Parker Hannifin

1957

Becoming Parker Hannifin

Parker acquired the Hannifin Company, a family-founded manufacturer of cylinders and valves. Now Parker could supply all the components in a fluid power system.

On the Big Board

1964

On the Big Board

Parker’s stock hit the New York Stock Exchange. Within two years, Parker was part of the prestigious Fortune 500.

President Pat

Parker in Space

1969

President Pat

Pat Parker became Company president. He went on to lead the Company with the same innovative vision as his father.

Parker in Space

Parker controls were used on every space mission, including the historic Apollo 11 moon landing.

In 1970, Parker engineers worked around the clock with NASA to save the lives of the Apollo 13 astronauts. They devised a way to get oxygen from high-pressure storage to the spacecraft cabin.

Sales Hit $1 Billion

1980

Sales Hit $1 Billion

Global Player

1987

Global Player

Innovative Business Model

1993

Innovative Business Model

Parker transformed its services with ParkerStores, which offer walk-up repairs, and Hose Doctors, who performed on-site maintenance.

New Global Headquarters

1997

New Global Headquarters

Parker moved its global headquarters from a factory on Euclid Avenue in downtown Cleveland to a modern building on 34-acres in Mayfield Heights, Ohio.

Sales Top $8 Billion

2000

Sales Top $8 Billion

Don Washkewicz took over as president and COO and charted a new course for the Company with his innovative Win Strategy.

Helping a Nation Heal

2001

Helping a Nation Heal

After the terrorist attacks on 9/11, Parker donated much-needed products and services to help with the efficient removal and analysis of the debris.

Leadership Loss

2005

Leadership Loss

Pat Parker passes away yet his spirit lives on.

Winning Approach

2007

Winning Approach

Parker introduced a brand new strategy and tagline, “Engineering Your Success.” In this same year, the Company opened its 1000th ParkerStore.

Reorganized for Success

2013

Reorganized for Success

Parker reorganized into seven groups and four global technology platforms. The move provided more transparency to investors and broadened awareness of Parker’s competitive strengths.

Winning Approach

2015

Winning Approach

Parker elected Tom Williams its CEO and Lee Banks its president and COO. Together, they launched a refreshed Win Strategy.

Indego
Exoskeleton

2016

FDA Clears Indego Exoskeleton

The U.S. Food and Drug Administration (FDA) gives Parker clearance to market and sell the Indego® exoskeleton for clinical and personal use in the United States. Indego is a robotic exoskeleton or powered orthotic device that allows users to stand and walk and holds great promise for affording people with paraplegia a new level of independence.

The FDA’s clearance came following the completion of the largest exoskeleton clinical trial conducted to date in the U.S.

A Big Milestone

CLARCOR

2017

A Big Milestone

Parker celebrated its 100th anniversary.

Parker Completes CLARCOR Acquisition

This strategic transaction creates a comprehensive portfolio of filtration products and technologies, offering customers a single streamlined source for all their purification and separation needs.

Clarcor acquisition

Defining
our Purpose

Exotic Metals

LORD

2019

Defining our Purpose

Parker defines its unique contribution to the world, aligning around a new purpose: 
Enabling Engineering Breakthroughs that Lead to a Better Tomorrow

Parker Completes Exotic Metals Acquisition

Parker Acquires Exotic Metals Forming Company in Strategic Transaction that Significantly Expands Aerospace Group Product Portfolio

Clarcor acquisition

Parker Completes LORD Acquisition

Parker acquired LORD Corporation – a leading manufacturer of advanced adhesives and coatings, as well as vibration and motion control technologies to join its Engineered Materials Group.

LORD acquisition

Pandemic
Response

2020

Pandemic Response

Parker leads with purpose to solve the unique challenges presented by the coronavirus pandemic.

Outside of Workplace Safety Poster

Enabling a
Better Tomorrow

Meggitt

Win Strategy 3.0

2022

Parker Completes Acquisition of Meggitt PLC

Parker completes its acquisition of Meggitt PLC for approximately £6.3 billion. Meggitt, headquartered in Coventry, the UK, has diverse aerospace and defense exposure with technology and products on almost every major aircraft platform.

Meggitt acquisition

Enabling a Better Tomorrow

Across Parker's portfolio of interconnected core technologies, approximately two-thirds are solutions that enable electrification, lightweighting, the adoption of cleaner energy and other innovations with a positive, global environmental impact.

Win Strategy 3.0

A refined Win Strategy 3.0 sets Parker on the path towards a promising future.

New Leadership

2023

New Leadership

Parker Elects Jennifer A. Parmentier as Chief Executive Officer and Andrew D. Ross as Chief Operating Officer, Effective January 1, 2023

Jennifer Parmentier

Seven BRGs

2024

Parker’s Seven BRGs

Parker’s Business Resource Groups (BRGs) are designed to enhance visibility, awareness and education for all team members. Each group serves as a platform for team members to connect, share experiences, and contribute to a vibrant workplace culture. All BRGs are open to all team members, and together, these seven BRGs will enrich our inclusive culture, ensuring every team member feels they belong, matter, and make a difference in creating a better tomorrow.

Seven BRGs