Sun Hydraulics Gets Faster

Sun Hydraulics Corp., Sarasota, Fla., announced that it has entered into a definitive agreement to acquire the shares of Faster Group from Capvis Equity IV LP, a fund advised by the Swiss private equity firm Capvis Equity Partners AG, and other co-investors for €430 million (approximately $531 million) in cash. The acquisition is expected to close in the second quarter of 2018 and is subject to typical closing conditions.

Faster is a global manufacturer of quick-release hydraulic coupling solutions. Its primary markets include agriculture, construction equipment and general industrial applications. Headquartered in Milan, Italy, Faster has manufacturing operations co-located with its headquarters as well as in Toledo, Ohio and Pune, India. Additionally, the company has sales offices in Shanghai, China; São Paulo, Brazil; and Langenfeld, Germany.

Wolfgang Dangel, Sun’s president and chief executive officer said, “The acquisition of Faster is in alignment with our Vision 2025, advancing SNHY as a global technology leader in the industrial goods sector while maintaining superior profitability and financial strength. Faster further diversifies SNHY more deeply into the growing global agriculture market. The business also broadens our global footprint, advancing our ‘in the region, for the region’ initiative.”

Faster recorded 2017 sales of €105 million (approximately $130 million) and an adjusted EBITDA margin of 27.5%.  In 2018, the company anticipates revenue growth of 16-16.5% with an EBITDA margin in the same range as 2017.  The acquisition is expected to be accretive to SNHY’s GAAP earnings in 2018 and beyond.

Related Articles

Another Daimler Diesel Emissions Recall
Deutz Buys Battery Company
PSI Launching Certified Weichai Diesels in North America
A Waiver From Tier 4 Emissions
Sullair Expanding in Michigan City
JCB’s German Expansion
Diesel Progress Award winners announced in Louisville
Summit Opens With Strong Cat Message

Latest News

Magazine Issue Archive

Marine Hybrid Transmission
Cooler Filter Tank at Agritechnica
Diesel Progress – October 2019
JCB’s German Expansion
Diesel Progress Award winners announced in Louisville
Diesel Progress International – September – October 2019
Diesel Progress – September 2019
Diesel Progress – August 2019
Diesel Progress International – July – August 2019
Diesel Progress – July 2019

Login

Forgotten Password?

Haven’t got an account? Click here to register.