BellMark Partners, LLC advised Parker-Hannifin Corporation (the “Company”) in the divestiture of its MicroStrain Sensing Systems Business (“MicroStrain” or the “Business”) to Spectris PLC. Headquartered in London, UK, Spectris PLC is a leading provider of precision measurement solutions worldwide, including advanced sensors, instruments, monitors, simulation solutions, and more. MicroStrain will join the Spectris Dynamics business unit, which has a long-established presence in high precision sensing solutions.
Headquartered in Williston, Vermont, MicroStrain is a leading developer of highly engineered inertial sensing systems and wireless data collection solutions. In addition, the Business has developed proprietary calibration processes and software tools for its customers to optimize performance and minimize the impact of environmental disruptions in critical applications. MicroStrain serves customers in commercial aerospace, drones, ground robots, autonomous mobile & agricultural equipment, SLAM & mapping, and other end markets. The Business has a long history of continuous product innovation, designing six consecutive generations of industrial and tactical grade inertial sensing and navigation systems for use in diverse autonomous equipment applications.
BellMark Partners, LLC acted as Parker-Hannifin Corporation’s exclusive financial advisor in connection with the completion of this transaction. BellMark Partners, LLC was selected by the Company due to its industrial technology expertise and its senior-level attention to transaction execution.