Helios Technologies Closes Acquisition of i3 Product Development
31 May 2023
Helios Technologies, Inc. a global leader in highly engineered motion control and electronic controls technology for diverse end markets, has completed the acquisition of i3 Product Development (or “i3”.) i3 is a custom engineering services firm, with over 55 engineers specializing in electronics, mechanical, industrial, embedded and software engineering. i3 specializes in working to transform customer’s ideas into industrial design solutions through rapid prototyping and creating 3D models in-house. Their solutions are used across many sectors, including medical, off-highway, recreational and commercial marine, power sports, health and wellness, agriculture, consumer goods, industrial, sports and fitness.
“i3 is the latest example of a flywheel acquisition that will complement our existing internal engineering teams across all our operating companies,” commented Josef Matosevic, Helios’ President and Chief Executive Officer. “We believe i3 equips Helios with significant value-added professional services capabilities to solve our customers’ most complex needs. In addition, they will provide customization to our platforms and solutions. i3 fits perfectly into the telematics and data analytics roadmap we have articulated, and their culture is very aligned with ours. We are very pleased to welcome them to the Helios family.”
The acquisition of i3 is expected to help augment other Helios businesses by providing profitable engineering, consulting, and product development services for customer-specific solutions that go beyond the current products and solutions offered by Helios.
Helios funded the acquisition through a combination of cash and equity. Terms of the acquisition were not disclosed. The acquisition is expected to be immediately accretive to earnings.