The Sterling Group Exits Velcon Filters

The Sterling Group Exits Velcon Filters

Parker Hannifin, a provider of motion and control technologies, has signed an agreement to acquire Velcon Filters, a manufacturer of filtration equipment and a portfolio company of The Sterling Group.

“Velcon is the leader in the jet fuel filtration market with a brand that has become synonymous with the highest standard for safety in the industry,” said Greg Elliott, Partner at The Sterling Group. “Under Sterling’s ownership, Velcon has seen a diversification of end-markets and geographies and has significant growth potential as part of Parker’s Filtration Group.”

Velcon Filters is a manufacturer of filtration equipment and replacement cartridges for the aviation, industrial fuel, and industrial process filtration markets. Velcon reported sales of $115 million for the twelve months ended August 31st, 2012 and has approximately 300 employees globally. The company is based in Colorado Springs, CO (

The Sterling Group targets controlling interests in basic manufacturing, industrial services and distribution companies that have enterprise values from $100 million to $500 million. Sterling has sponsored the buyout of 41 platform companies and numerous add-on acquisitions for a total transaction value greater than $9.5 billion. The firm was founded in 1982 and is located in Houston (

Parker Hannifin is a diversified manufacturer of motion and control technologies and systems for a variety of mobile, industrial and aerospace markets. The company employs approximately 60,000 people in 48 countries around the world. Sales in fiscal year 2012 were $13 billion. Parker Hannifin is based in Cleveland (

© 2012 PEPD • Private Equity’s Leading News Magazine • 10-5-12

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