HLIO - Helios Technologies to acquire Joyonway assets

Helios Technologies (HLIO) entered into a definitive agreement to acquire assets related to the electronic control systems and parts business of Shenzhen Joyonway Electronics & Technology and its related entities.Joyonway, a fast-growing developer of control panels, software, systems and accessories for the health and wellness industry, operates in two cities - Shenzhen and Dongguan."With the addition of Joyonway, we cost effectively expand our electronic controls platform with more capabilities, strengthen our supply chain through broader geographic reach, increase our manufacturing capacity to meet growing global demand with the opportunity to improve our margins over time," president & CEO Josef Matosevic commented.Acquisition expected to close in Q3; terms not disclosed.

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Helios Technologies to acquire Joyonway assets