Helios Technologies has entered into a definitive agreement to acquire Schultes Precision Manufacturing. Schultes is a specialist in manufacturing precision machined components and assemblies for customers requiring very tight tolerances, superior quality, and exceptional value-added manufacturing processes. Josef Matosevic, Helios’ President and Chief Executive Officer, commented, "Schultes is an excellent bolt-on flywheel acquisition to add to our Hydraulics segment. It brings process technology and know-how that advances our ability to serve our customers with a broader product and solutions portfolio. It also expands and diversifies our markets and continues to optimize our manufacturing and operating footprint. Schultes is yet another strong standalone business with a healthy margin profile that fits perfectly into our Hydraulics business. This transaction is another milestone that further validates that we are making great progress against our augmented strategy and long-term goals." Helios expects to close the transaction in the first quarter of 2023, subject to customary closing conditions. Terms of the acquisition were not disclosed.
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