Helios Technologies Closes Acquisition of Daman Products

Helios Technologies, Inc., a global leader in highly engineered motion control and electronic controls technology for diverse end markets, announced that it has completed the acquisition of Daman Products Company. Daman is a recognized leader in complex manifold design and manufacturing for precision hydraulic manifolds and related fluid conveyance products. As a long-time partner of Sun Hydraulics, a Helios company, Daman and Sun have developed custom solutions that address the most challenging fluid power requirements.

Josef Matosevic, Helios’ President and Chief Executive Officer, commented, “We are making excellent progress with our augmented strategy. The addition of Daman to the Helios family demonstrates our ability to expand our technologies and markets through another high-quality flywheel acquisition. Daman is a very strong standalone business with a healthy margin profile. Within the Helios Business System, we expect to be able leverage Daman from a very successful small business to closer to a hundred-million-dollar business over the next five years. As we fold them into our global manufacturing and operating strategy this provides another avenue to produce integrated package offerings with other Helios brands over time.”

Courtesy of Helios Technologies.

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Sara Mathov is a feature editor contributing to Valve World Americas, Stainless steel World Americas and other related print & online media.