Please ensure Javascript is enabled for purposes of website accessibility

Helios announces big start to the year

The news of the company expanding into two new operational centers was followed shortly by an acquisition.


  • By
  • | 4:00 p.m. January 23, 2023
Helios starts the year off strong with separate expansion and acquisition announcements.
Helios starts the year off strong with separate expansion and acquisition announcements.
File photo
  • News
  • Manatee-Sarasota
  • Share

Helios Technologies has been making big moves in the new year. 

It’s not even February yet, and already the company has advanced its business strategy to expand into two operational centers and acquired a manufacturing company. 

The two new Centers of Excellence will be used to restructure Helios’ hydraulics business line. Expansion has already started at a 72,000-square-foot facility in Mishawaka, Indiana, on the future Hydraulic Manifold Solutions Centers of Excellence. The facility, which was received through an acquisition, will expand by 50,000 square feet. 

The second Centers of Excellence, Hydraulic Valve and Coupling Solutions, will be located in Sarasota. That 88,000 square foot facility is expected to operational by the third quarter of this year. 

“With this move, we expect to drive greater operational efficiencies, quality control and enable technology enhancements that create advanced hydraulic solutions for our customers,” says Josef Matosevic, president and CEO,  in a statement. “Importantly, we can further our expertise in hydraulics and electronics to exceed the boundaries of today’s approach to motion control by expanding our unique pure-play position in the industry.”

After acquiring Daman Products Co. last September, the Sarasota-based publicly traded company, with $907.1 million in revenue over the last 12 months, also acquired the Mishawaka facility. Manufacturing operations are expected to be relocated to Daman Products by the third quarter of 2023. 

The second bit of news crossed the threshold on Jan. 17 when Helios announced another acquisition to add to the company’s growing list. Helios expects the acquisition of Schultes Precision Manufacturing Inc. to wrap up in the new year’s first quarter. 

Schultes, with roughly $30 million in 2022 revenue, is a third-generation owned company in Buffalo Grove, Illinois, that was founded in 1946. It operates out of a recently expanded 110,000 square foot facility that sits on seven acres. The release says there’s 20,000 square feet for future growth opportunities. 

“Schultes is an excellent bolt-on flywheel acquisition to add to our hydraulics segment,” Matosevic says. “It brings process technology and know-how that advances our ability to serve our customers with a broader product and solutions portfolio.

“It also expands and diversifies our markets and continues to optimize our manufacturing and operating footprint. This transaction is another milestone that further validates that we are making great progress against our augmented strategy and long-term goals.”

The company did not disclose the acquisition’s terms.

 

Related Articles