Tech and Biotech: SciLog to stay here, new owner Parker Hannifin says
Excerpted from Wisconsin State Journal
By Judy Newman
An official of Parker Hannifin Corp., the big, publicly traded, Cleveland company that purchased Madison biotech SciLog, is giving assurances that SciLog will stay in Madison and grow.
“The home of SciLog will remain in Madison, absolutely,” says Richard Strike, an integration manager for Parker. “We do plan to invest in the R&D (research and development) capability here.”
“It’s a hugely innovative company, as well, which is another reason Parker was interested,” Strike says.
He says CEO Juliette Schick will stay on as business unit manager, while her husband, Karl Schick, who is named in SciLog’s more than 25 patents, will also remain with the company as research and engineering manager.
Founded in 1990, SciLog has about 30 employees and plans to add three more immediately, Strike says. In the meantime, Parker staff members from Cleveland, California and the U.K. have been spending quite a bit of time in Madison since the acquisition in August, for an undisclosed amount.
“We expect that we are going to grow this business significantly in the future,” Strike says.