Helios Technologies, Inc. | January 19, 2023
Helios Technologies, Inc., a global technology leader in the hydraulics and electronics markets, has signed a definitive agreement to acquire Schultes Precision Manufacturing, Inc. Schultes, a precision machined components and assemblies manufacturer for customers with extremely tight tolerances, excellent quality, and exceptional value-added manufacturing process requirements. Schultes consistently delivers manufacturing quality, reliability, and responsiveness crucial to its customers' success and is currently serving the communication, hydraulic, aerospace, food services, medical devices, and dental industries.
Schultes acquisition will help Helios move into new end markets with complementary manufacturing expertise and favorable secular tailwinds. It will also open new avenues into communication, food services, communication, as well as the life sciences sector, including those for medical devices and dental applications. As a strategic partner, Schultes, gives Helios more depth in manufacturing processes which can be used to expand its "in the region for the region" strategy.
In 2022, Schultes had roughly $30 million in revenue, and currently operates from its newly expanded 110,000 square foot facility based on seven acres with roughly 20,000 square feet of additional space for future growth. In addition, Schultes provides rapid growth applications to its customers, from prototype to full-rate production.
Josef Matosevic, Helios’ President and Chief Executive Officer, said, “Schultes is an excellent bolt-on flywheel acquisition to add to our Hydraulics segment. It brings process technology and know-how that advances our ability to serve our customers with a broader product and solutions portfolio.” He further added, “It also expands and diversifies our markets and continues to optimize our manufacturing and operating footprint. Schultes is yet another strong standalone business with a healthy margin profile that fits perfectly into our Hydraulics business. This transaction is another milestone that further validates that we are making great progress against our augmented strategy and long-term goals.”
(Source – Businesswire)
Helios expects the acquisition to be completed in the first quarter of 2023, subjected to customary closing conditions. The terms were not disclosed.
About Helios Technologies, Inc.
Helios Technologies is a leading motion control and electronic controls technology provider for a wide range of end markets, such as agriculture, construction, energy, material handling, recreational vehicles, maritime, and health and wellness. It develops and manufactures innovative products and solutions, including customized electronic control systems, hydraulic cartridge valves and quick-release couplings. Helios' products are sold to customers in over 90 countries worldwide. The company's growth plan is to be the leading provider of premier products and solutions in niche areas through innovative product creation and acquisition.
MANUFACTURING TECHNOLOGY,DIGITAL TRANSFORMATION,ROBOTICS AND AUTOMATION
Allied Electronics & Automation | January 24, 2023
Allied Electronics & Automation is the largest authorized distributor of industrial control equipment in North America, offering over 197,000 products optimized for industrial control systems. It is a trading brand of RS Group plc, a global omni-channel product and service solutions provider.
Industrial control systems (ICS) are systems, devices, networks, and controls used to electronically operate or automate industrial processes in public utilities, manufacturing, chemical and petrochemical, food and beverage, pharmaceutical, oil and gas, automotive, and transportation industries. System sizes can range from a few modular controllers to massive control systems with thousands of field connections.
Allied supports the distinct needs of different ICS with a wide range of industrial control products and a highly experienced, reliable, and responsive technical staff committed to helping customers find the right solutions for their systems.
Allied provides cable entry and exit solutions for industrial control cabinets, including ILME rectangular connectors and Mencom cable gland adapters. These solutions allow for secure wiring connections with contactors inside the cabinet (available from suppliers such as Joslyn Clark) and support high-precision machinery and equipment outside the cabinet, including linear motion technology from suppliers that include SCHNEEBERGER.
Allied's industrial control solutions include contactors, control stations, controllers, disconnect switches, electric linear actuators, electronic and mechanical counters, inductive signal couplers, machine guarding and machine safety equipment, mechanical power transmission equipment, panel meters, power outlets, power transfer switches, robots, signal conditioning and converter devices, slip rings, solenoids, and timers.
About Allied Electronics & Automation
Allied Electronics & Automation is a trading name of RS Group plc, a leading global omni-channel industrial product and service solutions supplier to customers developing, building, and maintaining industrial equipment and operations safely and sustainably. The company ships roughly 60,000 shipments daily through numerous methods to 32 countries. It assists customers throughout the product life cycle through innovation and technical support during the design phase, improved time to market and productivity during the build phase, or reduced purchasing costs and inventory optimization during the maintenance phase. The company provides customers with customized product and service offerings that are critical to the success of their businesses and help them save time and money.
MANUFACTURING TECHNOLOGY, DIGITAL TRANSFORMATION
Rootstock Software | January 27, 2023
Rootstock Software has been awarded "Most Promising Salesforce Service Provider" by CIOReview for its manufacturing ERP on the Salesforce Platform. The platform offers precise control over operational areas such as engineering, production, supply chain, and inventory and helps manufacturers adapt to challenges in the post-pandemic era. This award shows that Rootstock Software is serious about giving manufacturers solutions that help them become more flexible and quick.
Rootstock's ERP is native to Salesforce, allowing organizations to benefit from its ability to plug-and-play with other enterprise and point solutions. The platform offers features such as Salesforce Lightning, Einstein AI, and natural language processing and is specifically designed for manufacturers, distributors, and supply chain organizations. Rootstock Software has shown with this award that it is committed to giving manufacturers modern enterprise solutions that are made to fit their needs.
David Stephans, CEO of Rootstock Software, said, “By using Salesforce at the frontend and Rootstock at the backend, manufacturers can truly transform their operations for the post-pandemic era.”
(Source - Businesswire)
Rootstock's team brings decades of manufacturing and ERP experience to help customers succeed. Rootstock Software is a leader in the Gartner 2020 Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large, and Global Enterprises because of how hard it works.
About Rootstock Software
Rootstock Software is a company that makes and uses cloud enterprise resource planning (ERP) software to help manufacturers and distributors build operations that can grow, offer personalized, 360-degree customer experiences, and provide better service than their competitors. Their cloud ERP solution, Rootstock, is natively built on the Salesforce Platform and offers a suite of modules including order management, manufacturing operations, supply chain management, and financial management. Rootstock is ranked as a leader in the ERP Value Matrix by industry analysts and has vertical expertise in discrete manufacturing, medical devices, and high-tech verticals. The people who work for the company work with customers as trusted advisors to bring about change and transformation. Rootstock continues to grow and expand its offerings.