United States.
Altus Capital Partners, an investment firm focused on mid-market manufacturing companies in the United States, announced the acquisition of Nichols Portland ("Nichols Portland" or the "Company"), a division of Parker Hannifin Corporation.
Nichols Portland is a leading designer and manufacturer of fixed precision powder metal and variable displacement gears that includes gerotor gears and smart pumps automobiles and other industrial markets. Altus Capital along with the Management Team of Nichols Portland made this investment to participate in the expected growth of the smart pumps and variable fin gears market. The financial terms of the investment were not disclosed.
Rick Izor, general manager of Nichols Portland, said, "We are excited to partner with Altus Capital Partners as we continue to grow. Nichols Portland has consistently built on its foundations of innovation and engineering excellence and we look forward to the resources Altus Capital can provide will help achieve our strategic growth goals."
