Private Equity Partnership to Purchase Sullair Corporation
Sullair Corporation announced on August 1, 2012, that United Technologies reached an agreement with the private equity firms of The Carlyle Group and BC Partners for the purchase of Hamilton Sundstrand Corporation’s Industrial businesses, including Sullair Corporation. BC Partners and Carlyle have formed a limited partnership and will jointly oversee management of Sullair. This transaction is expected to close in the fourth quarter, upon completion of all required approvals.
About the Private Equity Partnership
The Carlyle Group is a 25-year-old investment firm that boasts an array of sophisticated investors, ranging from public and private pension funds to unions and corporations. BC Partners is a 26-year-old worldwide private equity firm that specializes in buyouts and acquisition financing.
A Message from the President
According to Henry F. Brooks, President of Sullair Corporation, “The partnership between Carlyle and BC Partners provides a unique growth opportunity for Sullair. They recognize that our business is a performance leader in our markets with great employees, great products, and vested channel partners. Additional investment in Sullair will enhance our capabilities to compete on a global scale.”
Mr. Brooks concluded by saying, “As president of Sullair Corporation, I could not be more pleased with this outcome. Sullair has a history of great performance, and I feel that with the combined BC Partners/Carlyle Group ownership, the future for Sullair is indeed the brightest in my memory.” Read the full message here
About Sullair Corporation
Sullair is one of the world's leading compressor manufacturers, and is the only air compressor manufacturer to concentrate exclusively on rotary screw technology. Sullair has been an industry leader and innovator since 1965. With subsidiaries in China and Australia, Sullair is also a globally recognized manufacturer of compressed air contaminant removal equipment, vacuum systems, stationary and portable compressors, and contractors' air tools. www.sullair.com.