February 2, 2017
Cascadia Capital, an investment bank serving middle market clients globally, is pleased to announce it acted as the exclusive financial advisor to Helac Corporation on its acquisition by Parker Hannifin Corporation. Based in Enumclaw, WA, Helac specializes in the design and manufacture of helical rotary actuators and also manufactures a line of attachments primarily for use in material handling and construction equipment markets. Parker Hannifin is a Fortune 250 global leader in motion and control technologies with an industry leading position in hydraulics technology.
“The acquisition of Helac by Parker will bring significant value to both companies allowing Helac to expand its global reach and Parker to continue to add innovative products to its hydraulic portfolio,” said Michael Butler, CEO of Cascadia Capital. “We are pleased to have helped Helac complete this highly strategic transaction and believe Parker will be able to accrete value out of Helac’s innovative product portfolio and meaningfully grow Helac’s global footprint.”
“The Cascadia team provided strong insights in positioning us in the market and adapting a process that drove an optimal strategic outcome with a well-respected global leader in hydraulics,” Dean Weyer, CEO of Helac Corporation commented. “They were able to deliver a quality outcome to all vested parties. We thank them for bringing us together with a truly ideal partner for our shareholders, employees and customers, and we look forward to continuing to innovate and grow under Parker ownership.”
For over 47 years, Helac Corporation has been a leader in the manufacture of hydraulic rotary actuators for OEMs. Helac rotary actuators are best known for their tremendous torque output, compact dimensions, exceptional load bearing capability and rugged, reliable performance. Helac also manufacturers the PowerTilt and PowerGrip, two specialty products, which increase the utilization of backhoes and excavators. Over 1,000 worldwide customers in diverse markets depend on Helac’s product line to provide product quality, reliability, ease of use and durability.
For more information about this transaction, please feel free to contact the Cascadia Capital deal team: