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.
Rick Izor, Nichols Portland’s general manager, said: “We are very excited to be partnering with Altus Capital Partners as we continue to grow. Nichols Portland has consistently built on its foundation of innovation and engineering excellence and we look forward to the resources that Altus Capital can provide to help us achieve our strategic growth objectives.”
Russell Greenberg, managing partner of Altus Capital, said: “Altus is enthusiastic to partner with Nichols Portland’s management team in acquiring an industry leader in the designing and manufacturing powder metal gerotor gears and a growing developer of innovative smart pumps for fuel applications. We recognise and value management’s depth of capabilities along with the company’s exceptional technological advancements, which has earned Nichols Portland its industry leadership position.”
