In an effort to strengthen its position in aviation and industrial fuel and process filtration applications, Parker Hannifin has signed an agreement to acquire Velcon Filters, LLC, from The Sterling Group LP, a private equity firm. Velcon is a global market leader in the manufacturing of filtration equipment and replacement cartridges for the aviation, industrial fuel, and industrial process filtration markets. And Parker Hannifin Corporation is the global leader in motion and control technologies.
“This acquisition brings us a leadership position in aviation and industrial fuel filtration under the Velcon and Warner Lewis product brands, particularly for aviation fuel which requires specialist expertise and certifications,” said President, Filtration Group, Peter Popoff in a press release. “We are also strengthening our offering in process filtration markets such as oil and gas with the addition of the Twin Filter brand. We are excited about the opportunities to combine our strengths and extend our solutions to more customers, markets and geographies.”
The acquired company will become a part of Parker’s Filtration Group. Approximately 33 per cent of revenues will be reported in the Industrial North America segment and 67 per cent reported in the Industrial International segment.
“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 Partner at The Sterling Group, Greg Elliott. “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.”
Based in Colorado Springs, Colorado, Velcon is a niche manufacturer of filtration systems, including vessels and replacement cartridges. Velcon’s process division, through its Twin Filter brand, engineers, manufactures and markets equipment and replacement cartridges for the oil, liquid and air filtration markets in Europe, Asia, North America and other international markets.