HL-Hydraulics buys Hydroline Service
3J Partners acted as financial advisor to the buyers
in an transaction that resulted in the acquisition of Hydroline Service by HL-Hydraulics.
HL-Hydraulics acquires Hydroline Services, a provider of hydraulic cylinder repair and maintenance services, from Hydroline Oy. The arrangement is conducted as an asset deal in which 20 employees will transfer to the new company. 3J Partners acted as financial advisor to the buyers in the transaction. HL-Hydraulics Oy’s owners Pasi, Jukka and Mikko Laakkonen are satisfied with 3J’s service:
“We are excited to announce the acquisition. The Services unit has grown tremendously in recent years, and we see that the arrangement will allow us to handle the business in the new company even more efficiently. We have highly skilled and motivated personnel, with whom we will continue to serve our customers with high quality”, says Pasi Laakkonen, CEO of HL-Hydraulics Oy.
“The Services business is considered to have even better opportunities to further develop and expand its operations as an own independent company. Hydroline, on the other hand, desires to streamline its operations in order to focus even more on serving OEM customers and supporting them in their international growth”, Jan Mattlin, CEO of Hydroline Oy, comments in their press release.
HL-Hydraulics Oy
HL-Hydraulics offers maintenance and repair services for hydraulic cylinders, with offices in Vuorela and Hämeenlinna. The company is one of the leading players in its market segment and serves a wide range of customers in the steel, mining and lifting industries, among others. The company’s turnover is approximately EUR 3.5 million and the company employs 20 people.
Hydroline Oy
Hydroline designs and manufactures heavy hydraulic cylinders for the world’s leading machine and equipment manufacturers and provides lifecycle services for the cylinder industry. The company’s production facilities are located in Siilinjärvi in Finland and Stargard in Poland. The company’s turnover is approximately EUR 67 million and it employs about 330 people.
Read more:
Hydroline press release: “Hydroline Oy sells its Services business”
