Sterling Group Sells Filtration Co. To Parker Hannifin

Law360, New York (October 5, 2012, 12:44 PM EDT) -- Texas middle market private equity firm The Sterling Group LP has agreed to sell a filtration equipment company to Ohio aerospace technology company Parker Hannifin Corp., the buyer said Friday.

Cleveland-based Parker Hannifin said it would buy Velcon Filters LLC from the private equity firm's second fund, Sterling Group Partners II LP, which launched in 2005 with $470 million in assets. Based in Colorado Springs, Colo., Velcon is a global market leader in filtration equipment manufacturing for the aviation, industrial fuel and industrial process filtration industries....
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