Blackstone-owned Gates acquires Atlas Hydraulics
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.
3 October 2017•2 mins read
