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September 7, 2012
(Chesterfield, MI.) - Hydraulex Global has completed its largest acquisition to date by acquiring Metaris Hydraulics, headquartered in Forest, Mississippi. With a second location in Toronto, Ontario, Canada, Metaris is a leading global provider of high quality hydraulic and power transmission components servicing the mobile and industrial markets. Hydraulex Global is the forerunner in the repair, remanufacture, and distribution of hydraulic components. Hydraulex is the combined company of Attica Hydraulic Exchange of Chesterfield, Michigan, and Hydraulic Repair and Design, located in Puyallup, Washington. The company also recently acquired Flint Hydrostatics of Memphis, Tennessee and Sioux City, Iowa. Stonebridge Partners of White Plains, New York, has served as the equity partner in each transaction to provide growth capital.
The acquisition of Metaris on Aug. 30th, 2012 gives Hydraulex new product lines in both Gear Pumps and Power Take Off products, allowing the company to serve as multi-dimensional hydraulic replacement experts. Hydraulex can now supply customers’ replacement needs with a wide range of new and remanufactured options. The company has greatly increased its ability to bring solutions to the marketplace with the largest inside and outside sales forces in the industry. With manufacturing in six locations across a strategic footprint, Hydraulex can provide the fastest delivery in the market across North America. And, with the addition of Metaris sales and distribution locations in the UK, Germany, China and The Netherlands, Hydraulex is also positioned to serve the global industrial market.
Shirish Pareek, CEO of Hydraulex Global, said the company is committed to providing exceptional customer service, high quality products, and the fastest turn around in the industry. "As Hydraulex Global grows, we are looking for new and improved ways to serve our customers. We are striving to be recognized as Best in Class for customer service and quality. We are making exciting changes based upon customer feedback, and our most recent acquisitions have made this a very exciting time for our company and customers alike." Pareek says the company will continue to invest in product availability of all major brands of pumps, motors, valves, servo, and cylinders to better serve its growing customer base.
Pareek continued, "Our new slogan says it all, ‘The Right Replacement, Right Now.’ We want to be the first company our customers’ think of when they need hydraulic components and services."
Michael Smith, President of Metaris says, "I am pleased to have Metaris join the Hydraulex family. Shirish and I have had ongoing dialogue for years so the culmination of this transaction is most gratifying. Mr. Pareek’s strong team in Ken Best, Mike DeFazio, and David Perry, along with an expanded product offering and services, puts Hydraulex in a position to become the world’s leading supplier of aftermarket hydraulics. The growth of Hydraulex will expand opportunities for the group’s people and will attract business."
Hydraulex Global is poised for potential strategic opportunities in the hydraulics remanufacturing, repair and distribution markets.