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Altus Capital Partners acquires Nichols Portland from Parker Hannifin

Altus Capital Partners, Wilton, Conn., an investment firm focused on middle-market manufacturing companies in the U.S., has acquired Nichols Portland, a division of Parker Hannifin Corp., located in Portland, Maine.

Nichols Portland is a designer and manufacturer of powder metal fixed and variable-displacement gears, including gerotor gears and smart pumps for automotive and on/off-highway markets. Its business comprises powder metal and steel components for fixed and variable-displacement pumps, and the smart pump business comprises mechanical and electronically driven fuel and oil pumps.