Helios closes sale of Fluidpower business, enters distribution agreement

Helios Technologies (HLIO) announced that it has completed the previously announced sale of its hydraulic fluid power solutions and service provider, Custom Fluidpower to Questas Group. Helios also executed with Questas a long-term exclusive distribution agreement, subject to annual growth targets tied to market conditions, which secures the continuity of Sun Hydraulics’ strategic position in the Australian hydraulics market through CFP’s extensive engineering, distribution, and service network. Helios plans to use the net proceeds from the transaction consistent with its stated capital allocation priorities, including debt repayment, disciplined organic investment into the business, and return of capital to shareholders.