Helios Technologies completed the acquisition of Balboa Water Group for $219m from AEA Investors.

Helios Technologies, a global industrial technology company, completed the acquisition of Balboa Water Group, a manufacturer of customized, critical components for the portable spa, jetted bath and other adjacent markets, for $219m. “Strategically, this acquisition is our first step in a multi-year journey to build out our Electronics segment into a top industry player. The deal aligns entirely with our Vision 2025 strategy and will have very attractive financial returns for our shareholders from day one. Additionally, I have already received very receptive feedback from some existing and potential new customers around areas for product development that Helios and Balboa will be able to create together,” Josef Matosevic, Helios Technologies President and Chief Executive Officer.