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MANUFACTURING TECHNOLOGY

Helios Technologies to Acquire Schultes Precision Manufacturing

Helios Technologies, Inc. | January 19, 2023 | Read time : 02:30 min

Helios Technologies to Acquire Schultes Precision Manufacturing

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.

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