Manufacturer acquires distributor for $26 million

Helios Technologies acquired Custom Fluidpower, an Australian distributor that serves mining, material handling, agriculture, construction, energy/oil and gas markets.

By Business Observer Staff
| 3:55 p.m. August 14, 2018
| 0 Free Articles Remaining!

Helios TechnologiesÂ President and CEO Wolfgang Dangel.

Manatee-Sarasota

SARASOTA — Helios Technologies, the parent company of Sarasota-based Sun Hydraulics, acquired the shares of Australian fluid power distributor Custom Fluidpower for approximately $26 million.

According to a press release, the acquisition was funded using approximately $9.3 million in cash and approximately 333,000 shares of SNHY common stock.