Gates Corp has acquired Atlas Hydraulics Inc, a Brantford, Ontario-based specialist in the design, manufacture and supply of hydraulic tube and hose assemblies. No financial terms were disclosed. Founded in 1979, Atlas Hydraulics serves agricultural, turf, construction, forestry and other industrial equipment manufacturers. Denver, Colorado-based Gates said the acquisition enhances its position in the fluid power market. Gates is a portfolio company of U.S. private equity firm Blackstone Group. Blackstone bought the business from Onex Corp and Canada Pension Plan Investment Board in 2014 for US$5.4 billion.
Gates Acquires Atlas Hydraulics To Strengthen Position In Global Fluid Power Market
DENVER, Oct. 3, 2017 /PRNewswire/ — Gates Corporation, a global, diversified industrial manufacturer of power transmission and fluid power solutions today announced its acquisition of Atlas Hydraulics, a fully-integrated product engineering, manufacturing, and commercial business headquartered in Brantford, Ontario, Canada.
With locations in Canada, the U.S., and Mexico, the company specializes in the design, manufacture, and supply of hydraulic tube and hose assemblies. Established in 1979, Atlas Hydraulics is a desired partner to several major agricultural, turf, construction, forestry, and other industrial equipment manufacturers.
“This acquisition greatly enhances our portfolio with a broad range of fluid power solutions and services,” said Ivo Jurek, Chief Executive Officer. “It also enhances our manufacturing footprint, and complements our existing hydraulic product lines.”
“Atlas Hydraulics adds proven expertise, manufacturing capability, and technology which help strengthen our ability to serve our customers,” added Ralitza Arafin, General Manager – NA Hose and Tube Assemblies.
Atlas Hydraulics will be integrated into the newly established Hose and Tube Assemblies business unit, which will be the focal point to serve customers with highly-engineered solutions for their hydraulic applications.
The acquisition of Atlas Hydraulics, along with the recent acquisition of the assets of Techflow Flexibles, accelerate Gates strategy to expand its industrial product portfolio and geographic reach in key global markets that it believes are poised for significant future growth.
For more information contact:
Javier Del Castillo
About Gates Corporation
Based in Denver, Colorado, Gates Corporation is a world leader in engineering and manufacturing application-specific power transmission and fluid power solutions that are utilized by customers in a variety of industries, including agriculture, construction, transportation, automotive, energy, general manufacturing, power sports, consumer durables and many others. Gates relies upon its deep expertise in materials science, and close relationships with customers to develop innovative, high quality products that our customers depend on in their critical applications. Founded in 1911, Gates currently employees 13,000 associates in 100 locations in 33 countries. More about Gates Corporation can be found online at www.gates.com.
Photo courtesy of Atlas Hydraulics Inc