Sarasota-based manufacturer reels in $150M loan

Sarasota-based hydraulic cartridge valve manufacturer Helios Technologies has obtained a $150 million loan from its existing financing structure.

The $150 million loan, from PNC Capital Markets, can go up to about $200 million the company says in a statement. Details on what Helios, which develops, makes, markets and sells customized electronic control systems and hydraulic cartridge valves, will use the loan proceeds for weren’t disclosed. 

“The new term loan augments our capacity and provides us with financial flexibility as we continue to execute our growth strategy,” Helios President and CEO Josef Matosevic says in the statement. “We are pleased that this expansion uses the pricing from our existing credit agreement, especially given the challenging capital markets backdrop, and it demonstrates the strength of our company, our business model, and our institutional relationships.