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Sarasota-based manufacturer reels in $150M loan


  • By Mark Gordon
  • | 8:00 a.m. May 19, 2023
  • | 2 Free Articles Remaining!
Helios Technologies sells products to customers in over 90 countries.
Helios Technologies sells products to customers in over 90 countries.
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  • Manatee-Sarasota
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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.

“We appreciate our bank syndicates’ continued strong support for our company’s strategy and this strong refinancing effort,” he adds.

A publicly traded company with shares traded on the NYSE under the symbol: HLIO, Helios Technologies posted $885.4 million in revenue in 2022. The company is a global leader in highly engineered motion control and electronic controls technology, with markets including construction, material handling, agriculture, energy, recreational vehicles, marine and health and wellness. It sells its products to customers in over 90 countries.

 

author

Mark Gordon

Mark Gordon is the managing editor of the Business Observer. He has worked for the Business Observer since 2005. He previously worked for newspapers and magazines in upstate New York, suburban Philadelphia and Jacksonville.

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