US investment firm Altus Capital Partners has acquired gerotor gear and smart pump producer Nichols Portland from Parker Hannifin Corp.
Nichols Portland designs and manufactures precision powder metal fixed and variable displacement gears, including gerotor gears, and smart pumps for automotive and on-off highway and other industrial markets.
Founded in 1904 as WH Nichols, Nichols Portland has its manufacturing operations and headquarters in Portland, Maine.
Altus Capital and the management of Nichols Portland believe that demand for smart pumps and advanced variable vane gears will increase because of the ability of these products to offer increased fuel and motor efficiency.