Lord Corporation Overview and History

Lord Corporation was founded in 1924 by William H. Lord in Erie, Pennsylvania.

The company started as a small business with a focus on manufacturing wire and cable products.

Lord Corporation's early success can be attributed to its innovative approach to wire and cable production.

In the 1940s, Lord Corporation began to expand its product line to include electrical connectors and other electronic components.

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LORD Corp. was founded in 1924 by patent attorney Hugh Lord, who invented a solution to quiet squeaking automobiles that traveled in front of his office in Erie, PA.

The company started with a small staff of just six employees, but has since grown to employ over 3,000 people in 26 countries.

Hugh Lord's invention marked the beginning of LORD Corp.'s journey, which would eventually take the company into various industries and markets.

Today, LORD operates globally to serve its customers in their local markets, with a focus on adhesion, vibration, and motion control.

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The company's core competencies have allowed it to deliver innovative solutions to the aerospace and defense, industrial, automotive, and oil and gas industries.

LORD Corp.'s 90-year history is a testament to the power of innovation and collaboration, with the company continuing to evolve and grow despite the challenges it has faced.

A timeline showcasing the company's growth and technological advancements is available on the LORD website, providing a glimpse into the improvements and developments in the industries it serves.

LORD Corp.'s CEO, Ed Auslander, emphasizes the importance of preserving the company's core values while continuing to innovate and move forward.

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LORD Corporation offers a wide range of products and technologies that cater to various industries. Their product line includes Adhesives Coatings, Specialty Chemicals, Electronic Materials, Vibration & Motion Control, and Magneto-Rheological (MR) fluids.

Their technologies include Active Vibration Control (AVC) Systems, which are used to minimize vibration and reduce weight in helicopters. LORD AVC systems have been successfully implemented in this application.

Some of their notable technologies include Automotive Aftermarket Adhesives, which are used to return vehicles to pre-accident condition. These adhesives are formulated to repair all types of automotive substrates, including metals and plastics.

Here are some of the key technologies offered by LORD Corporation:

The company's product line is quite diverse. It includes Adhesives Coatings, which are used in various applications.

Specialty Chemicals are also part of the product line, offering unique properties. These chemicals are used in various industries, including manufacturing and healthcare.

Electronic Materials are another key product area, used in the production of electronic devices. They play a crucial role in the development of modern technology.

Vibration & Motion Control products are designed to manage and regulate movement and vibrations. They are used in various industries, including aerospace and automotive.

Magneto-Rheological (MR) fluids are a type of intelligent fluid that can change viscosity in response to magnetic fields. They are used in applications such as vibration control and shock absorption.

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LORD Corporation offers a wide range of technologies that can be applied across various industries. Their Active Vibration Control (AVC) Systems are used to minimize vibration and reduce weight in helicopters.

One of the unique features of LORD's AVC Systems is their ability to operate in real-time, making them ideal for applications where vibration control is critical. LORD's AVC Systems can be used to improve the overall performance and safety of helicopters.

LORD's Automotive Aftermarket Adhesives are used to return vehicles to pre-accident condition. These adhesives are formulated to repair all types of automotive substrates.

The LORD Fusor line includes adhesives for bonding, metals and plastics, seam sealers and acoustical foams. This comprehensive range of adhesives makes it easy to find the right solution for any automotive repair job.

LORD's Balancing Systems are designed to correct unbalance in rotating machinery while they are operating. LORD balancers monitor rotating imbalance and provide real-time corrections, diagnostic data and can operate during start-up and shut-down cycles.

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LORD's Balancing Systems can be used to improve the efficiency and reliability of rotating machinery, reducing downtime and increasing productivity.

Here are some of the key technologies offered by LORD Corporation:

Parker Hannifin Corp. has acquired LORD Corp. for approximately $3.675 billion in cash.

The transaction has been approved by the Board of Directors of each company and is subject to customary closing conditions, including receipt of applicable regulatory approvals.

LORD Corp. is a privately-held company founded in 1924, offering a broad array of advanced adhesives, coatings, and specialty materials as well as vibration and motion control technologies.

LORD's products are used in mission-critical applications in the aerospace, automotive, and industrial markets.

The company has annual sales of approximately $1.1 billion and employs 3,100 people across 17 manufacturing and 15 research and development facilities globally.

The acquisition is expected to drive significant value for Parker shareholders and be accretive to organic growth, EBITDA margins, cash flow, and EPS, excluding one-time costs and deal-related amortization.

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Parker plans to finance the transaction using new debt and maintain a high investment-grade credit profile.

The transaction is expected to be completed within the next four to six months and is subject to customary closing conditions, including receipt of applicable regulatory approvals.

LORD's unique and proprietary products, solutions, and technologies will increase Parker's overall engineered materials product and solutions offerings to enable a stronger value proposition for customers.

Parker's Engineered Materials Group will be combined with LORD following the completion of the transaction.

The combined entity will offer a broader range of products and solutions to customers in the aerospace, automotive, and industrial markets.

The acquisition will also provide LORD with immediate access to growth, additional markets, applications, and new customers through Parker's large tier-one supplier status.

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