Parker Hannifin buys HTR Holding for undisclosed sum

NEW YORK—Private equity firms Red Diamond Capital and Century Park Capital Partners on Thursday said they sold HTR Holding Corp. and its subsidiaries to motion-control system maker Parker Hannifin Corp.

Financial terms were not disclosed.

Anaheim, Calif.-based HTR Holding provides plastic and elastomeric parts, primarily for medical devices, to manufacturers. It also produces components for pump valves, liquid control valves and other nonmedical devices, the equity firms said.

The investment firms acquired HTR Holding in March 2004, and HTR subsequently acquired five businesses and built a plant in Riverside, Calif. Revenue increased to about $93 million from $31 million in the time since the initial acquisition, the equity firms said.

Parker Hannifin shares rose $2.15, or 2.7 percent, to $82.59 in afternoon trading.