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June 13, 2012
(Chesterfield, MI.) - Hydraulex Global has successfully completed the acquisition of Flint Hydrostatics, located in Memphis, Tennessee. Hydraulex Global is the forerunner in the repair, remanufacture, and distribution of hydraulic components; the acquisition of Flint further enhances the company’s product offering and geographical footprint. Flint Hydrostatics joins the Hydraulex divisions of Attica Hydraulic Exchange, located in Chesterfield, MI, and Hydraulic Repair and Design, located in Puyallup, WA. Flint Hydrostatics brings over thirty years of hydraulic expertise and an established consumer base to the Hydraulex family.
"We are impressed by the resource commitment and management focus that Hydraulex brings to Flint. This will take us to the next level and we are very pleased to be a part of Hydraulex Global."
Shirish Pareek, CEO of Hydraulex Global, has partnered with Stonebridge Partners (www.stonebridgepartners.com), a White Plains, NY-based private equity firm to provide the management team with growth capital. Pareek says, "We welcome Flint Hydrostatics to our growing family. Flint provides us with the opportunity to present our customers with an expanded and broad product offering and knowledge base. With the acquisition of Flint comes heightened reman capabilities, presence in the Southern U.S. market and hydrostatics expertise."
Flint Hydrostatics provides quality remanufactured products accompanied by excellent customer service and post-sale support. Collaborating with Attica and HRD, Flint's continued investments in engineering processes and manufacturing knowledge establishes Hydraulex Global as the leading independent remanufacturer in the world. Craig Fienup, President of Flint Hydrostatics, recently spoke of the benefits of the acquisition, stating, "We are impressed by the resource commitment and management focus that Hydraulex brings to Flint. This will take us to the next level and we are very pleased to be a part of Hydraulex Global." Flint is the largest remanufacturer of Sundstrand pumps and motors and also has great interaction with the construction aftermarket. They specialize in hydrostatics, and bring expertise in Eaton HD. Flint possesses significant machining capacity, and expanded reman capabilities. Hydraulex continues to rapidly expand its geographic reach with the acquisition.
Hydraulex Global is poised for potential strategic opportunities in the hydraulics remanufacturing, repair and distribution markets.