Neodyne Industries emerges from Hamilton Sunstrand acquisition
New company includes Sullair, Milton Roy and Sundyne brands
With the acquisition of the former Hamilton Sunstrand Industrial by BC Partners on Dec. 19, Neodyne Industries was created. Neodyne is the rebranded name of the three global businesses—Sullair, Milton Roy and Sundyne—acquired by BC Partners from United Technologies Corporation. The sale was valued at $3.46 billion.
The new company manufactures flow control and industrial air compressors and employs approximately 3,300 people operates 19 manufacturing facilities in seven countries across four continents.
“The Neodyne brand reflects our renewed emphasis on product innovation, engineering and manufacturing excellence. We will focus on our core industrial products businesses while we better position our company for sustained global growth,” said Neodyne president and CEO John Doucette. “Neodyne will continue to deliver strong engineering and proprietary design technology behind all of our industrial products.”
In a joint statement, Carlyle and BC Partners said, “Neodyne has consistently achieved best-in-class performance in its highly engineered products and we are excited about the company’s continued growth prospects, especially in high-value product segments and emerging markets. We believe the combination of our resources and expertise, the company’s experienced leadership and the continued growth trends in the energy, chemicals and industrials sectors will help us achieve a successful future for Neodyne as an independent global company.”