Park-Ohio Industries (PKOH) to Acquire Fluid Routing Solutions for $97.5 Million; Deal Immediately Accretive

Park-Ohio Industries, Inc., a subsidiary of Park-Ohio Holdings Corp. (NASDAQ: PKOH), has entered into an agreement to acquire Fluid Routing Solutions Inc. ("FRS"), a leading manufacturer of industrial hose products and fuel filler and hydraulic fluid assemblies, in an all cash transaction valued at $97.5 million.

FRS products include fuel filler, hydraulic, and thermoplastic assemblies and several forms of manufactured hose including bulk and formed fuel, power steering, transmission oil cooling, hydraulic, and thermoplastic hose. FRS sells to automotive and industrial customers throughout North America, Europe, and Asia. FRS has five production facilities located in Florida, Michigan, Ohio, Tennessee, and the Czech Republic.

With over 950 employees, FRS achieved revenues of approximately $190 million for the trailing twelve months ended January 31, 2012. The transaction will be immediately accretive to earnings.

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