Helios Technologies has entered into a definitive agreement to sell Custom Fluidpower (CFP) to Questas Group.
The all-cash transaction valued at approximately AUD $83 million is subject to final working capital and additional closing adjustments. The transaction value represents an increase of approximately AUD $48 million above the acquisition price paid for CFP by the company in August 2018.
Helios will also enter into a long-term exclusive distribution agreement with Questas, subject to annual growth targets tied to market conditions, assuring the continuity of Sun Hydraulics’ strategic position in the Australian hydraulics market through CFP’s extensive engineering, distribution, and service network.
Questas is based in Sydney, Australia and has approximately 850 employees across 37 locations.
Courtesy of Helios Technologies.