Flywheel acquisition strategically enhances Helios’ Hydraulics technologies
Durable, highly complementary products offer accelerated path into forestry and mining markets for Hydraulics offerings
Creates more opportunities for product integration into technical solutions to deepen market reach
SARASOTA, Fla., May 09, 2022--(BUSINESS WIRE)--Helios Technologies, Inc. (NYSE: 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 the assets of Taimi R&D, Inc. ("Taimi"). Founded in 2005, Taimi is a Canadian manufacturer of innovative hydraulic components that offer ball-less design swivel products which improve hydraulic reliability of equipment, increase the service life of components, and help protect the environment by reducing leakage. Taimi brings strong engineering that has developed proprietary, scalable technology and solutions-based offerings that are distributed in 34 countries. Faster S.r.l. and Taimi started working together in October 2020 in a collaborative distribution arrangement.
Josef Matosevic, Helios’ President and Chief Executive Officer, commented, "Bolting Taimi onto our pure play Hydraulics platform is a clear demonstration of the continued progress we are making with our flywheel acquisition strategy. Taimi produces high quality, uniquely designed components that when integrated with our existing technologies form hydraulic solutions that offer higher reliability, greater durability, and safety and environmental benefits. We are excited to expand our Hydraulics solutions and enhance our technical expertise with Taimi’s innovative team. Their team brings not only technology but also strong engineering expertise. Importantly, we continue to execute on our augmented strategy to drive value for our customers with our integrated innovation teams across Helios. We believe this approach helps us maintain a market leading position and ultimately delivers for all of our stakeholders."
Helios expects to close the transaction in the third quarter of 2022 or as soon as practicable, subject to customary closing conditions. Terms of the acquisition were not disclosed.
About Taimi R&D, Inc.
Taimi is a Canadian manufacturer of innovative hydraulic components. Founded in 2005, the company’s goal is to improve the hydraulic reliability of equipment and help protect the environment by reducing leakage. Taimi has developed a unique technology of ball-less swivel couplings and its products are reliable, leak resistant, pressure spike protected and can withstand significant lateral and tear loads. They are designed for high pressure modern machines. For more information please visit: https://www.taimi.ca/.
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 90 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220509006079/en/
Tania Almond Vice President of Investor Relations, Corporate Communication and Risk Management (941) 362-1333 tania.almond@HLIO.com
Deborah Pawlowski Kei Advisors LLC (716) 843-3908 dpawlowski@keiadvisors.com
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