Add-on Acquisition • Manufacturing

Parker Hannifin Acquires Velcon Filters

On November 1, 2012, Parker Hannifin acquired manufacturer Velcon Filters from The Sterling Group

Acquisition Context
  • This is Parker Hannifin’s 36th transaction in the Manufacturing sector.
  • This is Parker Hannifin’s 37th transaction in the United States.
  • This is Parker Hannifin’s 2nd transaction in Virginia.

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M&A Deal Summary

Date November 1, 2012
Target Velcon Filters
Sector Manufacturing
Buyer(s) Parker Hannifin
Sellers(s) The Sterling Group
Deal Type Add-on Acquisition

Target Company

Velcon Filters

Colorado Springs, Virginia, United States
Velcon Filters LLC is a niche manufacturer of filtration systems, including vessels and replacement cartridges, that meet specific requirements for fluid filtration processes in a variety of domestic and international end-markets.
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Buyer Overview 1

Buyer

Parker Hannifin

Cleveland, Ohio, United States

Category Company
Founded 1917
Sector Machinery
Employees61,120
Revenue 19.9B USD (2024)
DESCRIPTION
Parker Hannifin's corporate headquarters in Cleveland, Ohio.
Parker Hannifin's corporate headquarters in Cleveland, Ohio.

Parker-Hannifin is a diversified manufacturer of motion and control technologies and systems, providing precision engineered solutions for a wide variety of mobile, industrial and aerospace markets. Parker Hannifin was formed in 1917 and is based in Cleveland, Ohio.


Deal Context for Buyer #
Overall 65 of 75
Sector: Manufacturing 36 of 39
Type: Add-on Acquisition 45 of 52
State: Virginia 2 of 2
Country: United States 37 of 43
Year: 2012 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-17 Sea Recovery

Compton, California, United States

Sea Recovery Corp., is a manufacturer of small to high capacity reverse osmosis systems for sea water desalination used primarily in commercial and pleasure marine applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-13 PGI International

Houston, Texas, United States

PowerQuest is a manufactures and distributes instrumentation and engineered products for the energy industry worldwide. PGI product lines include instrumentation valves and manifolds, remote power supplies, oilfield valve fittings and wellhead components, proprietary products for gas liquid measurement and safety related equipment.

Buy -

Seller Profile 1

SELLER

The Sterling Group

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Sterling Group is a private equity firm focused on acquiring middle-market businesses within basic manufacturing, industrial services, and distribution. Sterling looks for companies valued from $100 to $1000 million with positive cash-flow, strong market positions, and potential to grow. Sterling avoids investments in financial services, real estate, healthcare, or information technology companies. The Sterling Group was formed in 1982 and is based in Houston, Texas.


Deal Context for Seller #
Overall 10 of 36
Sector: Manufacturing 1 of 5
Type: Add-on Acquisition 1 of 5
State: Virginia 1 of 2
Country: United States 8 of 33
Year: 2012 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-01 Dexter Axle Co.

Elkhart, Indiana, United States

Dexter Axle Co., Inc. is a designer and manufacturer of trailer axle, brake and suspension assemblies and related replacement parts used primarily in the industrial and utility trailer.

Buy $360M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-01 Safe Fleet

Belton, Missouri, United States

Safe Fleet is a provider of safety solutions for fleet vehicles. Safe Fleet owns a portfolio of brands that help its customers improve the safety and efficiency of their fleets, their operators, passengers and pedestrians. Safe Fleet was founded in 2013 and is based in Belton, Missouri.

Buy -