On Jan. 30, Sarasota, Florida-based Helios Technologies, Inc. — a motion control and electronic controls technology company — announced that it has completed its acquisition of Schultes Precision Manufacturing, Inc.
Schultes develops precision machined components and assemblies for customers requiring “very tight tolerances, superior quality and exceptional value-added manufacturing processes,” Helios said in its announcement. Schultes currently serves the hydraulic, aerospace, communication, food services, medical device and dental industries.
Financial terms of the deal were not disclosed.
“We are evolving into an integrated operating company focused on our products, processes, customers and culture,” said Josef Matosevic, Helios’ President and CEO. “Closing on the Schultes acquisition further builds on our augmented strategy to grow both organically and through acquisitions. Schultes provides additional manufacturing know-how and expands our business into new end markets with attractive secular tailwinds. We view them as a strategic partner in our manufacturing processes as we build out our ‘in the region for the region’ manufacturing strategy.”
With roughly $30 million in 2022 revenue and a “healthy” margin profile, the acquisition is expected to be immediately accretive, Helios said.
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