Sun Hydraulics (SNHY) to Acquire Enovation Controls in ~$250M Deal
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Sun Hydraulics Agrees to Acquire Enovation Controls, a Leader in Electronic Control, Display and Instrumentation Solutions
November 7, 2016 4:01 PM ESTSARASOTA, FL -- (Marketwired) -- 11/07/16 -- Sun Hydraulics Corporation (NASDAQ: SNHY) has entered into an agreement with Enovation Controls, LLC, an Oklahoma-based and privately held provider of electronic control, display and instrumentation solutions, to acquire its Power Controls (PC) and Vehicle Technologies (VT) lines of business. The acquisition is expected to close in 30 days, subject to regulatory approval and other customary closing conditions.
Key Transaction Highlights:
Acquisition value at initial consideration of $200M and additional earn-out potential of $50M over 27 months Expected to be immediately accretive to Sun's 2017... More