Acquisition of Faster S.p.A.

Industrial
Acquisition of Faster S.p.A.

Summary

Baird served as the exclusive financial advisor to Sun Hydraulics Corporation on this transaction

About

Sun 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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Industrial
Acquisition of Faster S.p.A.
Date
April 2018
Company
Sun Hydraulics Corporation
Transaction
M&A
Sectors
Industrial
Target Location
Europe
Acquiror Location
North America

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