Helios Technologies has entered into a definitive agreement to acquire NEM S.r.l. Founded in 1995, NEM is an innovative hydraulic solutions company providing customized material handling, construction, industrial vehicle and agricultural applications to its global customer base, predominantly in Europe and Asia. NEM is located in northern Italy’s Emilia Romagna region, one of the world’s most innovative and technology-friendly areas in the hydraulics industry.
According to Josef Matosevic, Helios’s President and CEO, “This strategic flywheel acquisition demonstrates our continued commitment to our hydraulics segment and growing our core platform. Leveraging NEM’s strong brand name in the Cartridge Valve Technology (CVT) OEM European markets, along with shared synergies, will further advance our technology. This acquisition will optimize Helios’s position to expand our geographic reach, particularly in electrohydraulics, by growing our OEM business throughout the world. In addition, this acquisition gives us more CVT manufacturing capability in Europe. We look forward to welcoming the NEM team to the Helios family as we continue to drive growth and create shareholder value.”
Helios expects to close the transaction in the third quarter of 2021 or as soon as practicable, subject to customary closing conditions. Terms of the acquisition were not disclosed.
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