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Parker Hannifin Corporation is expanding its filtration group with the acquisition of Velcon Filters, a niche manufacturer of filtration equipment and replacement cartridges for the aviation, industrial fuel, and industrial process filtration markets. Terms of the transaction were not disclosed and are subject to regulatory approval.

Velcon, headquartered in Colorado Springs, Colo., reported sales of $115 million for the 12 months that ended Aug. 31, 2012, and has approximately 300 employees globally. The acquired company will become a part of Parker’s Filtration Group.

“This acquisition brings us a leadership position in aviation and industrial fuel filtration under the Velcon and Warner Lewis product brands, particularly for aviation fuel which requires specialist expertise and certifications,” said Peter Popoff, President, Filtration Group, in a prepared statement. “We are also strengthening our offering in process filtration markets, such as oil and gas with the addition of the Twin Filter brand. We are excited about the opportunities to combine our strengths and extend our solutions to more customers, markets and geographies.”