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Stock impact report

Helios Technologies Closes Sale of Custom Fluidpower Business and Enters Into Long-term Exclusive Distribution Agreement

Helios Technologies, Inc. (HLIO) 
Last helios technologies, inc. earnings: 2/24 04:15 pm Check Earnings Report
Company Research Source: Business Wire
SARASOTA, Fla.--(BUSINESS WIRE)--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 today that it has completed the previously announced sale of its hydraulic fluid power solutions and service provider, Custom Fluidpower (“CFP”) to Questas Group (“Questas”). 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.About Helios TechnologiesHelios Technologies is a glo Show less Read more
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