Helios to sell subsidiary for $54 million

Helios Technologies has agreed to sell one of its subsidiaries for approximately $54 million. The Sarasota-based company, which focuses on engineered motion control and electronic controls technology, plans to sell Custom Fluidpower (CFP) to Questas Group in an all-cash transaction.

CFP provides engineered hydraulic solutions in Australia, where it has 200 employees and eight branches, according to its website.

Helios Technologies acquired CFP in 2018 for approximately $26 million. Annual sales were $46 million at the time and have expanded each year, growing to $61 million in 2024, with earnings more than doubling since the acquisition, according to Helios President, CEO and CFO Sean Bagan.