Helios Technologies (NASDAQ: HLIO) has entered into a definitive agreement to acquire NEM S.r.l. The transaction will look to complement Helios’s CVT product line within the construction, material handling, industrial vehicles and agriculture machinery markets.
Located in northern Italy’s Emilia Romagna region, NEM is a hydraulic solution company that provides customized construction, material handling, and industrial vehicle and agricultural applications to their mainly European and Asian based customers.
Helios believes the acquisition will enhance their electro-hydraulic product offering, and help with developing their presence within the OEM markets. Further to this, the acquisition is said to offer geographic expansion for the company, which brings with it the ability to scale new markets. The agreement’s main purpose has been aimed at furthering the diversification of the company’s hydraulic segment.
Neither company has offered information on cost considerations for the acquisition. The transaction is slated to close in the third quarter of 2021.
Helios Technologies last traded on the NASDAQ at $72.65.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.