Middle-market private equity firm Altus Capital Partners has acquired Nichols Portland, a pump manufacturer in Maine, from Parker Hannifin Corp. (NYSE: PH).
Terms of the deal were not disclosed. Nichols Portland of Portland, Maine, was founded in 1904. The manufacturer designs and builds components for gerotors—a type of fluid pump used by filling stations and in engines, power plant turbines, transmissions and industrial hydraulic equipment. Nichols Portland is the self-described largest manufacturer of gerotors in the world.