Deal Details
Acquisition of the Power Controls and Vehicle Technologies Lines of Business from Enovation Controls
Summary
Baird served as the exclusive financial advisor to Sun Hydraulics Corporation on this transaction
About
Sun Hydraulics Corporation (“Sun” or the "Company) recently acquired the Power Controls (“PC”) and Vehicle Technologies (“VT”) lines of business from Enovation Controls, LLC (Enovation Controls) for approximately $200 million, plus a potential earn-out payment of $50 million payable over 27 months.Sun is a leading designer and manufacturer of high-performance screw-in hydraulic cartridge valves, manifolds and integrated package solutions for worldwide industrial and mobile markets. The Company has 10 global locations throughout the United States, Europe and Asia. Sun is headquartered in Sarasota, Florida.
Enovation Controls, LLC is a leading provider of sophisticated digital control systems for gaseous fuel engines and engine-driven equipment focused on the vehicle and energy markets. Enovation Controls combines the wide-ranging control and display capabilities of the Murphy® brand with the extensive engine control expertise of the EControls® brand. Enovation Controls develops systems-based solutions that are utilized in many markets including: commercial vehicles, natural gas compression and liquids, off-highway, material handling, agriculture and both recreational and commercial marine. Enovation Controls is headquartered in Tulsa, Oklahoma.
The PC line of business provides electronic control systems, displays and customized instrumentation panels for power units, generator sets and engine and pump instrumentation. The VT line of business provides electronic controls and infotainment solutions for the recreational and off-highway vehicle and marine markets. Sun will maintain Enovation Controls as a separate standalone company. Enovation Controls’ two other line of business, Natural Gas Production Controls and Fuel Controls & Fuel Systems, will be spun off into a newly formed entity not owned by Sun Hydraulics.
For additional information about this transaction, please contact:
- Date
- December 2016
- Company
- Sun Hydraulics Corporation
- Transaction
- M&A
- Sectors
- Industrial
- Target Geography
- North America
- Acquiror Geography
- North America
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