Sun Hydraulics Corp. is now one of several subsidiaries.
SARASOTA — A fixture in the Sarasota-Manatee business community for decades, hydraulics and electronics manufacturer Sun Hydraulics Corp. has introduced a new name for its parent holding company.
The new name, Helios Technologies, is in alignment with the company’s progress toward its Vision 2025 strategy, according to a statement. That strategy, the release adds, “is to achieve global technology leadership in the industrial goods sector by 2025 with critical mass exceeding $1 billion in sales.”
The use of the new name also reflects that there are several operating companies under the Helios Technologies umbrella, one of which will remain Sun Hydraulics. Sarasota-based Sun joins the previously acquired Enovation Controls and Faster Group as wholly-owned subsidiaries of Helios Technologies, the release states.
“An integral part of our Vision 2025 is to recognize that the parent company is evolving and needs to remain independent from its operating brands,” Helios Technologies President and CEO Wolfgang Dangel says in the release. “The new name reflects a progression of the company’s corporate strategy, which encompasses a solid foundation of multiple brands committed to becoming a leading designer and manufacturer of intelligent systems and controls.
Shares of Helios Technologies will continue to trade on Nasdaq using the Company’s existing ticker symbol, SNHY.
Helios had $342.8 million in revenue last year.