Centre Partners Management has sold Hyco International to Weber-Hydraulik
Lincoln International (“Lincoln”), a leading global mid-market investment bank, has announced that Hyco International Inc. (“Hyco”) has been sold to Güglingen, Germany-based Weber-Hydraulik GmbH. Hyco was a portfolio company of Centre Partners Management LLC (“Centre Partners”). Terms of the transaction were not disclosed.
Based in Atlanta, Georgia, and with four manufacturing plants on three continents, Hyco is a leading global designer and manufacturer of highly engineered, welded hydraulic cylinders for mobile equipment. Its products are used on all types of equipment for mobile lifting, steering, suspension, tilting, compaction, extension, and stabilization applications, primarily in the global construction, material handling, agricultural and energy recovery end-markets.
“From the outset, we believed Lincoln was the best choice to assist Hyco on this important process,” said Scott Perekslis, Senior Partner at Centre Partners. “Lincoln’s unique combination of middle market cross-border M&A skills and deep industry expertise did not disappoint. They introduced us to potential buyers around the world that otherwise we would not have been able to access, and this greatly facilitated our navigation of the myriad of cultural and transactional nuances that come with selling to a non-U.S. strategic buyer.”
Lincoln acted as the exclusive financial advisor to Hyco and Centre Partners, working closely with the company’s management team and shareholders throughout the sale process. This included providing advisory expertise and helping manage the preparatory, marketing, due diligence and final negotiation phases of the transaction.
“With Lincoln’s help,” Perekslis said, “we found the right home for Hyco and we wish the management and employees of Hyco the best as they look forward to an exciting future with their new partners at Weber-Hydraulik.”
Federico Mennella, Managing Director at Lincoln , commented, “We are delighted to have had the opportunity to work with Hyco and Centre Partners on this important transaction. Lincoln’s expertise and contacts in the hydraulic cylinders market across various geographies contributed to a very successful process.”
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