Tuesday, the White House released its budget proposal. While most of the national news has highlighted the cuts to Medicaid, Food Stamps and other...
Industrial products manufacturer acquired by BC Partners and the Carlyle Group
BC Partners, an international private equity firm, and global alternative asset manager the Carlyle Group announced the completion of their previously announced acquisition of Hamilton Sundstrand Industrial from United Technologies Corp. in a transaction valued at $3.46 billion. With the sale, the newly independent company is now Neodyne Industries. Neodyne, a manufacturer of highly engineered, mission-critical pumps and compressors for the global industrial, infrastructure and energy markets, operates three global industrial businesses — Milton Roy, Sundyne and Sullair.
“The Neodyne brand reflects our renewed emphasis on product innovation, engineering and manufacturing excellence. We will focus on our core industrial products businesses while we better position our company for sustained global growth,” said John Doucette, president and CEO of Neodyne. “Neodyne will continue to deliver strong engineering and proprietary design technology behind all of our industrial products.”
In a joint statement, Carlyle and BC Partners said, “Neodyne has consistently achieved best-in-class performance in its highly engineered products, and we are excited about the company’s continued growth prospects, especially in high-value product segments and emerging markets. We believe the combination of our resources and expertise, the company’s experienced leadership and the continued growth trends in the energy, chemicals and industrials sectors will help us achieve a successful future for Neodyne as an independent global company.”