Chino, Calif.-based Harrington Process Solutions LLC, a distributor and fabricator of industrial flow control process systems, was acquired by Bain Capital Private Equity from Nautic Partners LLC.
Founded in 1959, Harrington sells piping extruded by other manufacturers and fluid process products, such as filters, pumps, tanks, valves and instrumentation, for corrosive and high-purity applications.
The acquired company has more than 60 locations in the United States to support customers serving a variety of markets, including semiconductors, water and wastewater management, chemicals, manufacturing, life sciences, and food and beverage processing.
Harrington will continue to operate as a standalone company led by its current management team, according to a news release about the deal between Providence, R.I.-based Nautic Partners, which had owned the business since 2020, and Boston-based Bain Capital. Terms weren't disclosed.
"Harrington has been gaining market share for many years, driven by differentiated technical expertise, product availability and execution," Joe Robbins, a partner at Bain Capital, said in the release. "We have a great appreciation for the success the company has achieved to date, and we are excited to support Harrington's leadership and continued growth in the years to come."
Bain Capital is one of the most active investors in the specialty distribution sector. The firm's investments include Imperial Dade, Dealer Tire, PartsSource, Diversey, HD Supply Holdings Inc., Autodistribution and Brenntag.
Harrington is positioned for exceptional growth in the coming years, according to Chris Pierce, Nautic managing director.
"Nautic was fortunate to partner with a strong and deep management team to carve out Harrington from its corporate parent and accelerate the company's growth trajectory," Pierce said.
The timing was right, according to Harrington CEO Dave Abercrombie.
"As our end markets are benefiting from key macroeconomic trends, we are excited to partner with Bain Capital to accelerate our growth as we continue to support critical industrial sectors across the country," he said.
The deal is expected to close in the fourth quarter.
A year ago, Harrington was doing the acquiring when it purchased two companies. The first was plastic plumbing products distributor Commercial Industrial Supply (CIS) of Rock Hill, S.C., followed by Woodland, Calif.-based Crist Group, which fabricates fluid process parts and assemblies like pipe manifolds, tanks, fittings and flanges from thermoplastics and fluoropolymers.