Helios Technologies Completes Acquisition of Taimi
13 Juli 2022 - 2:30PM
Business Wire
Strong strategic fit for Hydraulics segment
further enhances technology with proprietary complementary products
that help to protect the environment and accelerates penetration
into target end markets
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, announced
that it has completed the acquisition of 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. Demonstrating
the complementary nature of this acquisition, Faster S.r.l. and
Taimi started working together in October 2020 in a collaborative
distribution arrangement to accelerate the combined efforts of both
companies.
Josef Matosevic, the Company’s President and Chief Executive
Officer, commented, “This is another perfect example of how our
flywheel acquisition strategy strengthens our Hydraulics and
Electronics portfolios in order to make us incredibly tough to
follow. Taimi brings a differentiated, yet complementary product
line to Helios’ Hydraulics platform which enhances our ability to
create industry leading solutions that are high value, cost
effective and offer safety and environmental benefits. Taimi also
brings strong engineering breadth having developed proprietary,
scalable technology and solutions-based offerings that are
distributed in 34 countries. I am very pleased to welcome the Taimi
team to the Helios family.”
About Helios Technologies 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.
Forward Looking Information This news release contains
“forward‐looking statements” within the meaning of Section 21E of
the Securities Exchange Act of 1934. Forward‐looking statements
involve risks and uncertainties, and actual results may differ
materially from those expressed or implied by such statements. They
include statements regarding current expectations, estimates,
forecasts, projections, our beliefs, and assumptions made by Helios
Technologies, Inc. (“Helios” or the “Company”), its directors or
its officers about the Company and the industry in which it
operates, and assumptions made by management, and include among
other items, (i) the Company’s strategies regarding growth,
including its intention to develop new products and make
acquisitions; (ii) the effectiveness of creating the Center of
Engineering Excellence; (iii) the Company’s financing plans; (iv)
trends affecting the Company’s financial condition or results of
operations; (v) the Company’s ability to continue to control costs
and to meet its liquidity and other financing needs; (vi) the
declaration and payment of dividends; and (vii) the Company’s
ability to respond to changes in customer demand domestically and
internationally, including as a result of standardization. In
addition, we may make other written or oral statements, which
constitute forward-looking statements, from time to time. Words
such as “may,” “expects,” “projects,” “anticipates,” “intends,”
“plans,” “believes,” “seeks,” “estimates,” variations of such
words, and similar expressions are intended to identify such
forward-looking statements. Similarly, statements that describe our
future plans, objectives or goals also are forward-looking
statements. These statements are not guaranteeing future
performance and are subject to a number of risks and uncertainties.
Our actual results may differ materially from what is expressed or
forecasted in such forward-looking statements, and undue reliance
should not be placed on such statements. All forward-looking
statements are made as of the date hereof, and we undertake no
obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise.
Factors that could cause the actual results to differ materially
from what is expressed or forecasted in such forward‐looking
statements include, but are not limited to, (i) supply chain
disruption and the potential inability to procure goods; (ii)
conditions in the capital markets, including the interest rate
environment and the availability of capital; (iii) inflation
(including hyperinflation) or recession; (iv) changes in the
competitive marketplace that could affect the Company’s revenue
and/or cost bases, such as increased competition, lack of qualified
engineering, marketing, management or other personnel, and
increased labor and raw materials costs; (v) risks related to
health epidemics, pandemics and similar outbreaks and similar
outbreaks, including, without limitation, the current COVID-19
pandemic, which may among other things, adversely affect our supply
chain, material costs, and work force and may have material adverse
effects on our business, financial position, results of operations
and/or cash flows; (vi) risks related to our international
operations, including the potential impact of the ongoing conflict
between Russia and Ukraine; and (vii) new product introductions,
product sales mix and the geographic mix of sales nationally and
internationally. Further information relating to factors that could
cause actual results to differ from those anticipated is included
but not limited to information under the heading Item 1. “Business”
and Item 1A. “Risk Factors” in the Company’s Form 10-K for the year
ended January 1, 2022.
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version on businesswire.com: https://www.businesswire.com/news/home/20220713005132/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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