Area manufacturer acquires company for $218.5 million

Balboa provides electronic controls for the health and wellness industry.

By Business Observer Staff
| 11:08 a.m. October 12, 2020
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Courtesy. In a statement, Helios President and CEO Josef Matosevic says the acquisition further advances the company's Vision 2025 strategy.

Manatee-Sarasota

SARASOTA — Helios Technologies will acquire BWG Holdings I Corp., operating as Balboa Water Group, for $218.5 million from investment funds affiliated with AEA Investors LP.

Helios, a Sarasota-based global industrial technology company that develops and manufactures solutions for the hydraulics and electronics markets, plans to fund the acquisition through a combination of cash and existing and new credit facilities, according to a press release. Helios expects to close the transaction in the fourth quarter.