We are pleased to announce that Faster will become part of Sun Hydraulics Corporation (NASDAQ: SNHY).
Sun Hydraulics is an 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.
Sun Hydraulics, headquartered in Sarasota, Florida, has entered the definitive agreement to acquire the shares of Faster from Capvis Equity and other co-investors.
This agreement has been very welcomed by both parties, as the two companies have complementary product portfolios and many communalities: they both operate in high precision and engineered hydraulic systems for mobile and static applications; and both brands stand for leadership, innovation, quality and service in their respective fields.
We will continue to work with passion and dedication to satisfy our customers, while we are sure that the new ownership will enhance the qualities of Faster and bring many positive opportunities.