Helios Completes Daman Acquisition

Helios Technologies announced that it has completed acquisition of Daman Products.

Daman, a manufacturer of complex manifold design and manufacturing for precision hydraulic manifolds and related fluid conveyance products, is a long-time partner of Sun Hydraulics, a Helios company. Daman and Sun have developed custom solutions that address the most challenging fluid power requirements.

“We are making excellent progress with our augmented strategy,” Josef Matosevic, Helios’ president and CEO, said in a Sept. 19 press release. “The addition of Daman to the Helios family demonstrates our ability to expand our technologies and markets through another high-quality flywheel acquisition. Daman is a very strong standalone business with a healthy margin profile. Within the Helios Business System, we expect to be able leverage Daman from a very successful small business to closer to a hundred-million-dollar business over the next five years. As we fold them into our global manufacturing and operating strategy this provides another avenue to produce integrated package offerings with other Helios brands over time.”

Daman Products, of Mishawaka, Indiana, manufactures standard and custom precision hydraulic manifolds and other fluid conveyance products. Daman’s hydraulic manifolds help power industrial and mobile equipment worldwide. Helios Technologies, of Sarasota, Florida, manufactures highly engineered motion control and electronic controls technology for diverse end markets.

For more information, visit www.daman.com/ and www.heliostechnologies.com.

• acquisition
• Daman
• fluid power
• Helios
• hydraulics