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.”
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey