Helios Technologies Inc. (HLIO) has announced it closed the acquisition of Italy-based NEM S.r.l. The agreement was signed on June 14, 2021. NEM specializes in hydraulic solutions for construction, material handling, agriculture and industrial vehicles.
Helios anticipates the NEM buyout will expand manufacturing, presence in the OEM market and international reach. NEM will compliment Helios’ Cartridge Valve Technology offerings. The assets acquired are now part of Helios’ Hydraulics segments, which offers cartridge valve technology products, quick-release hydraulic coupling solutions, and hydraulic system design solutions. In first-quarter 2021, the Hydraulics segment sales expanded 15% year over year to USD $119.1 million.
Courtesy of Yahoo Finance.