History 1936 1 • Jean Mercier • Inventor of the bladder accumulator History 1967 • 2 PR Hydraulik started to design and develop oil/air coolers in Stockholm, Sweden History 1991 • Acquisition of the companies T&B Hydraulik and PR Hydraulik, which became OILTECH AB (Sweden, Norway, Denmark and Finland) History 2010 • The four brands under the Olaer Group became…..OLAER History 2012 • • • Parker Hannifin acquires the Olaer Group ACDE – Accumulator & Coolers Division Europe is created Business Unit for Coolers in Sätra, Sweden