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Advisory

GTFAS assisted Sun Hydraulics with the acquisition of Faster

Capvis, a Swiss mid-market private equity fund, transferred the Italian company Faster to the US-based Sun Hydraulics Corporation, a global leading designer and manufacturer of high-performance screw-in hydraulic valves for Euro 430 million.

The Transaction Advisory Services team of Grant Thornton Financial Advisory Services, lead by Stefano Marchetti, Alberto Alverà and Martina Petrella, in collaboration with Grant Thornton US colleagues, assisted Sun Hydraulics with financial due diligence services.

Faster, acquired by Capvis in 2014, is a company specialised in quick-release hydraulic couplings for the agricultural, oil, refrigeration and chemical industries with premises in the USA and India and sales offices in China, Brazil and Germany. In 2017 it generated sales for Euro 105 million and a 27.5% adjusted EBITDA margin. In 2018 the group anticipated a 16-16.5% revenue growth and an EBITDA margin in line with 2017.

The acquisition by Sun Hydraulics will add 475 people and generate synergies in the hydraulic and electronic sectors. The closing of the operation is expected in quarter 2, 2018.