HLIO - Helios Technologies to acquire NEM S.r.l. for undisclosed terms

Helios Technologies (HLIO) to acquire NEM S.r.l. for undisclosed terms.Founded in 1995, NEM is an innovative hydraulic solutions company providing customized material handling, construction, industrial vehicle and agricultural applications to its global customer base, predominantly in Europe and Asia. Josef Matosevic, Helios’s President and Chief Executive Officer, commented, “This strategic flywheel acquisition demonstrates our continued commitment to our hydraulics segment and growing our core platform. Leveraging NEM’s strong brand name in the Cartridge Valve Technology ((CVT)) OEM European markets, along with shared synergies, will further advance our technology. This acquisition will optimize Helios’s position to expand our geographic reach, particularly in electro-hydraulics, by growing our OEM business throughout the world. In addition, this acquisition gives us more CVT manufacturing capability in Europe. We look forward to welcoming the NEM team to the Helios family as we continue to drive growth and create shareholder value.” Transaction is expected to close in 3Q21.

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Helios Technologies to acquire NEM S.r.l. for undisclosed terms