Sun Hydraulics Corporation, a global industrial technology company that develops and manufactures solutions for both the hydraulics and electronics markets, has announced that it has entered into a definitive agreement to acquire the shares of Faster Group from Capvis Equity IV LP. The acquisition is expected to close in the second quarter of 2018 and is subject to typical closing conditions.
Faster is a leading global manufacturer of quick-release hydraulic coupling solutions. Its primary markets include agriculture, construction equipment and general industrial applications. Headquartered in Milan, Italy, Faster has manufacturing operations co-located with its headquarters as well as in Toledo, Ohio and Pune, India. Additionally, the company has sales offices in Shanghai, China; São Paulo, Brazil; and Langenfeld, Germany.
Wolfgang Dangel, Sun Hydraulics President and Chief Executive Officer, commented, “The acquisition of Faster is in alignment with our Vision 2025, advancing Sun Hydraulics as a global technology leader in the industrial goods sector while maintaining superior profitability and financial strength. Faster further diversifies Sun Hydraulics more deeply into the growing global agriculture market. The business also broadens our global footprint, advancing our ‘in the region, for the region’ initiative.”
Image courtesy of Sun Hydraulics