Quick Take
Sun Hydraulics (SNHY) has announced a definitive agreement to acquire Faster Group for approximately €430 million ($531 million) in cash.
Faster sells quick release hydraulic couplers for numerous end markets including agriculture, construction equipment and a range of industrial applications.
Sun is taking on significant debt for this major acquisition and will need to execute on several fronts to retain shareholder value.
Target Company
Milan, Italy-based Faster was founded in 1951 as OMBA to originally develop lathed metal parts for the automotive market. The firm then patented a quick-release hydraulic