Helios Technologies, Inc. completed the acquisition of Schultes Precision Manufacturing, Inc. on for $84.7 million.
January 26, 2023
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Helios Technologies, Inc. (NYSE:HLIO) entered into a definitive agreement to acquire Schultes Precision Manufacturing, Inc. on January 17, 2023. Schultes Precision Manufacturing, Inc approximately $30 million in full-year revenue for 2022. The transaction is subject to customary closing conditions and expected to close the transaction in the first quarter of 2023. Bill Zawrotny of Jones Day acted as legal advisor to Helios Technologies, Inc.
Helios Technologies, Inc. (NYSE:HLIO) completed the acquisition of Schultes Precision Manufacturing, Inc. on for $84.7 million January 27, 2023. Initial cash consideration paid at closing, net of cash acquired, totaled $85 million and is subject to a post-closing adjustment. The consideration was funded with additional borrowings on the Company?s credit facility.
Helios Technologies, Inc. provides highly engineered motion control and electronic controls technology for diverse end markets, including construction, material handling, agriculture, energy, recreational vehicles, marine and health and wellness. The Company's segments include Hydraulics and Electronics. The Hydraulics segment designs and manufactures hydraulic motion control and fluid conveyance technology products, including cartridge valves, manifolds, quick release couplings as well as engineers hydraulic solutions and in some cases complete systems. The Hydraulics segment includes products sold under the Sun Hydraulics, Faster, Custom Fluidpower, Taimi, Daman and Schultes brands. The Electronics segment designs and manufactures customized electronic controls systems, displays, wire harnesses, and software solutions for a variety of end markets. The Electronics segment includes products sold under the Enovation Controls, Murphy, Zero Off, Balboa Water Group and Joyonway brands.
HELIOS TECHNOLOGIES, INC. 
