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Yet another company has stepped under the Helios Technologies Inc. umbrella.
The company is expected to acquire Daman Products Co. assets by the fourth quarter of this year.
The Sarasota-based publicly traded company, with $861.9 million in revenue in 2021, made the announcement Sept. 7. Helios is an engineered motion control and electronic controls technology company. It sells products in more than 90 countries.
“Adding Daman onto our pure play hydraulics platform is a clear demonstration of the continued progress we are making with our flywheel acquisition strategy,” Helios president and CEO Josef Matosevic says in a news release. “Daman has established long-term relationships with a diversified customer base serving multiple end markets.
"They bring a differentiated value proposition through sophisticated inventory programs that reduce supply chain delays and enable rapid delivery. They also leverage a strong engineering team that works closely with customers and distributors to design custom tailored solutions for a breadth of applications as well as standard manifold designs."
The acquired company, headquartered in Indiana, has previously worked with Sun Hydraulics, another Helios company.
“Daman is a critical supply channel partner that provides a notable combination of high-quality products with value-added engineering, inventory management, rapid prototyping and assembly services,” Matosevic says. “With over 300 years of combined experience resident in-house, we expect this acquisition to enhance Helios’ technologies through product integration, enabling further system sale opportunities, and diversification of end markets.”
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