The Latest Happenings

• Hydraulex Global Names Ken Best, Vice President Sales and Marketing

  September 19, 2011

  After a year of ownership by Stonebridge Partners, Hydraulex Global will add Ken Best to its senior leadership team to enhance its ability to serve the hydraulics remanufacturing, repair and distribution markets. CEO, Shirish Pareek, commented "Ken is a key addition to our senior leadership team and adds valuable customer focus to the company. He is a high integrity and thoughtful sales leader who will help us build a best in class sales and marketing organization to support all Hydraulex Global customers including those of Attica and HRD as well as future acquisitions.”

  Mr. Best, former Vice President of Sales and Marketing for Festo Corporation, a global leader in manufacturing of pneumatics systems and equipment, managed a 200 person Sales and Marketing team with annual revenues in excess of $100 million dollars. “We are especially excited about Ken’s strategic thinking, channel knowledge and “customer first” philosophy” Mr. Pareek said. “Ken will work to expand the products, services and customer base of the company and ensure we gain the desired synergies among the various Hydraulex Global companies.”

  “This is a very exciting time for Hydraulex Global,” said Mr. Best. “The company is positioned to offer uncommon value to the Industrial, Mining, and Construction industry. The quality and breadth of products offered by Attica and HRD are unique in the market and aligned well with the needs of industrial distribution houses, hydraulic repair companies, hydraulic dealers and customers in the construction and mining industries”.

  Hydraulex Global (www.hydraulex.com) was formed through the acquisition of Attica Hydraulic Exchange and Hydraulic Repair and Design and is headed by Shirish Pareek, a seasoned industry executive. The company is a leading worldwide remanufacturer and distributor of all major makes and brands of quality hydraulic pumps, motors, valves/servo and cylinders for a vast variety of industrial, mobile, mining and oil-field applications. It currently employs over 200 people in corporate, engineering, and manufacturing.

  Hydraulex Global has been majority owned by Stonebridge Partners, a private equity firm based in White Plains, New York, since July of 2011. Stonebridge, along with an affiliate of John Hancock Life Insurance Co., NXT Capital and Hydraulex management partnered to provide equity funding for the transaction continuing a strong relationship the institutional firms have built by investing together over many years. Combined, Stonebridge, John Hancock and NXT have more than $2 billion of committed capital available for their investing activities. Senior financing was also provided by NXT Capital.

  Michael Bruno, Managing Partner of Stonebridge, says that his firm was initially attracted to Hydraulics because of its impressive track record of quality and delivery. “We have gained a tremendous amount of respect for Shirish and his knowledge of the industry,” Bruno says, “and Stonebridge is thrilled to continue to build a strong management team with the addition of Ken Best.” Bruno noted that Stonebridge Partners is one of the oldest investment firms focused on middle-market manufacturing companies, and its philosophy is to find and support companies with outstanding leadership and inherent growth potential. More information on Stonebridge Partners can be found at www.stonebridgepartners.com.

  
  

• Hydraulex Global acquires Hydraulic Repair and Design (HRD)

  March 21, 2011

  HYDRAULEX GLOBAL ACQUIRES HYDRAULIC REPAIR AND DESIGN (HRD), A WORLD LEADER IN THE REPAIR, REMANUFACTURE AND DISTRIBUTION HYDRAULIC PUMPS, MOTORS, VALVES AND CYLINDERS FOR MOBILE MINING AND CONSTRUCTION EQUIPMENT

  Chesterfield, MI - Monday, March 21, 2011 – Hydraulex Global, announced that it has successfully completed the acquisition of Hydraulic Repair and Design (“HRD”), located in Puyallup, WA. The acquisition of HRD further enhances Hydraulex Global’s position as a world leader in the repair, remanufacture and distribution of hydraulic components. The terms of the transaction were not disclosed.

  Hydraulex Global is headed by Shirish Pareek, a seasoned industry executive, and is funded by Stonebridge Partners (www.stonebridgepartners.com), a White Plains, NY-based private equity firm. Shirish Pareek said, "Hydraulex Global has been formed with the objective of becoming the premier worldwide remanufacturer and distributor of all major makes and brands of quality hydraulic pumps, motors, valves/servo and cylinders for a vast variety of industrial, mobile, mining and oil-field applications. Our acquisition of Attica Hydraulic Exchange in August 2010 and the recent acquisition of Hydraulic Repair and Design are major steps towards achieving our goal.”

  Nick Nesland, Sr. and the entire management team of HRD will remain in place. Hydraulex Global recognizes the importance of continuing with the individual organizations and cultures of HRD and Attica Hydraulic Exchange. Commenting about the acquisition, Nick Nesland, Sr. said, "This is going to be a win-win situation for the customers and suppliers of both HRD and Attica. The two companies will support each other to significantly increase their product and brand offerings of hydraulic products, especially in the industrial and mobile markets. Our customers will benefit from the broad geographic locations, favorably located in the Pacific Northwest and Mid-west U.S., and a much wider breath of hydraulic products and services.”

  Hydraulex Global continues to evaluate acquisition candidates and other potential strategic opportunities in the hydraulics remanufacturing, repair and distribution markets. Please contact Shirish Pareek or visit the web site of Hydraulex Global (www.hydraulex.com) for further information.

  
  

Hydraulex Global

Hydraulex Global has been formed with the objective of becoming the premier worldwide remanufacturer and distributor of all major makes and brands of quality Hydraulic Pumps, Motors, Valves/Servo and Cylinders for a vast variety of Industrial, Mobile, Mining and Oil-field applications.