Acquisition of Faster S.p.A.
Baird served as the exclusive financial advisor to Sun Hydraulics Corporation on this transaction
AboutSun Hydraulics Corporation (“Sun” or “the Company”) (NASDAQ: SNHY) recently acquired the shares of Polyusus Lux IV S.à.r.l. and its operating subsidiary, Faster S.p.A. (collectively “Faster Group”) from Capvis IV Co-Investors Faster L.P. (“Capvis”) and other co-investors, for €430 million in cash.
Sun is a global industrial technology leader that develops and manufactures solutions for both the hydraulics and electronics markets. In the hydraulics market, the Company is a leading manufacturer of high-performance screw-in hydraulic cartridge valves, electro-hydraulics, manifolds and integrated package solutions for the worldwide industrial and mobile hydraulics markets. In the electronics market, the Company is a global provider of innovative electronic control, display and instrumentation solutions for both recreational and off-highway vehicles, as well as stationary and power generation equipment. Sun is headquartered in Sarasota, Florida.
Faster Group is a leading global manufacturer of quick-release hydraulic coupling solutions. Its primary markets include agriculture, construction equipment and general industrial applications. Headquartered in Milan, Italy, Faster Group has manufacturing operations co-located with its headquarters as well as in Toledo, Ohio and Pune, India. Additionally, Faster Group has sales offices in Shanghai, China; São Paulo, Brazil; and Langenfeld, Germany.
Capvis is a leading private equity firm based in Switzerland and a leading investor in German-speaking Europe and Italy. With a current fund of EUR 720 million, Capvis focuses on majority holdings in leading mid-sized companies. It aims to support management teams in releasing entrepreneurial potential and achieving new levels of excellence. Since 1990, Capvis has completed more than 50 transactions with a total value of more than EUR 5 billion. Capvis has floated ten companies on stock exchanges and has repeatedly been voted Switzerland's and Germany's best private equity firm by the international financial press.
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- April 2018
- Sun Hydraulics Corporation
- Target Location
- Acquiror Location
- North America