Leading international private equity firm, BC Partners and global alternative asset manager, The Carlyle Group announce the completion of their acquisition of Hamilton Sundstrand Industrial from United Technologies Corporation. The newly independent company will be known as Neodyne Industries.
A manufacturer of highly engineered, mission-critical pumps and compressors for the global industrial, infrastructure and energy markets, Neodyne operates three global industrial businesses including Milton Roy, Sundyne and Sullair.
According to John Doucette, President and Chief Executive Officer of Neodyne, the Neodyne brand reflects their renewed emphasis on product innovation, engineering and manufacturing excellence. The company will focus on their core industrial products businesses and will continue to deliver strong engineering and proprietary design technology behind all of their industrial products.
In a joint statement, Carlyle and BC Partners said that Neodyne has consistently achieved best-in-class performance in its highly engineered products and will continue to grow, especially in high-value product segments and emerging markets. Their combined resources and expertise along with the company’s experienced leadership and continued growth trends in the energy, chemicals and industrials sectors will help achieve a successful future for Neodyne as an independent global company.
Sullair Australia (Champion Compressors) offers rotary screw air compressors, piston reciprocating air compressors, air receivers, water chillers, vacuum systems and a wide range of associated ancillary equipment.