Area electronic controls company acquires European company

SARASOTA — Helios Technologies is set to acquire NEM S.r.l., an innovative hydraulic solutions company.

Helios is a global leader in highly engineered motion control and electronic controls technology for diverse end markets. NEM provides customized material handling, construction, industrial vehicle and agricultural applications to its global customer base, predominantly in Europe and Asia, According to a press release,

“This strategic flywheel acquisition demonstrates our continued commitment to our hydraulics segment and growing our core platform,” Helios President and CEO Josef Matosevic says in the release. “Leveraging NEM’s strong brand name in the Cartridge Valve Technology (CVT) OEM European markets, along with shared synergies, will further advance our technology.” 

Helios expects to close the transaction in the third quarter of 2021 or as soon as practicable.

“This acquisition will optimize Helios’s position to expand our geographic reach, particularly in electro-hydraulics, by growing our OEM business throughout the world,” Matosevic says. “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.”