Firm Advises The Sterling Group on Sale of Velcon Filters

November 6, 2012

The Sterling Group, L.P., a Houston, TX-based private equity firm, completes sale of portfolio company Velcon Filters, LLC to Parker Hannifin Corporation, the world’s leading manufacturer of motion and control technologies and systems.

On November 1, Willkie clients The Sterling Group, L.P., a Houston, TX-based private equity firm, and its portfolio company Velcon Holdings LLC announced that they had finalized the sale of Velcon Filters, LLC to Parker Hannifin Corporation. Under Sterling's ownership since 2009, Velcon has more than doubled in size.

Headquartered in Colorado Springs, Colorado,Velcon is a niche manufacturer of filtration systems, including vessels and replacement cartridges, which meet specific requirements for fluid filtration processes in a variety of domestic and international end-markets. Founded in 1982, The Sterling Group is a middle market private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems.

The deal and prior acquisition and finance work on behalf of Velcon have been handled by a team of Willkie attorneys in the firm’s New York, Frankfurt and Paris offices. Partners Bruce Herzog and Mario Schmidt and associates Kenneth Sicklick, Neil Keenan, Abraham Kwon, Amanda Burke, David Lambert and Tobias Daubert handled M&A, corporate finance and corporate governance matters; partner Hillel Jacobson and associate DJ Stauber handled tax matters; partner William Dye and associate Sean Zoltek handled finance projects; special counsel Jonathan Konoff and national partner Rolf Huenermann handled Hart-Scott and foreign jurisdiction competition filings; and partner Ian Levin and associate Geri Ann McEvoy handled employee benefits.