SARASOTA, Fla.--(BUSINESS WIRE)--Helios Technologies (Nasdaq: HLIO) (“Helios” or the “Company”), a global leader in highly engineered motion control and electronic controls technology for diverse end markets, has entered into a definitive agreement to acquire NEM S.r.l. 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. NEM is ideally located in northern Italy’s Emilia Romagna region, one of the world’s most innovative and technology-friendly areas in the hydraulics industry.
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.”
Helios expects to close the transaction in the third quarter of 2021 or as soon as practicable, subject to customary closing conditions. Terms of the acquisition were not disclosed.
About Helios Technologies
Helios Technologies is a global leader in highly engineered motion control and electronic controls technology for diverse end markets, including construction, material handling, agriculture, energy, recreational vehicles, marine, health and wellness. Helios sells its products to customers in over 85 countries around the world. Its strategy for growth is to be the leading provider in niche markets, with premier products and solutions through innovative product development and acquisition. The Company has paid a cash dividend to its shareholders every quarter since becoming a public company in 1997. For more information please visit: www.heliostechnologies.com.
About NEM S.r.l.
NEM has been producing premium hydraulic solutions for mobile, agricultural and industrial applications since 1995 with the main goal of achieving customer satisfaction through meticulous process management and continuous investment in research and development. NEM produces cartridge, parts-in-body and directional control valves along with hydraulic integrated circuits for applications in the lifting and material handling, construction machinery, industrial vehicles and agriculture machinery. The company is headquartered in the Emilia Romagna region of Italy.