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Helios Technologies to acquire the assets of Joyonway
Helios Technologies, a motion control and electronic controls specialist, has entered into a definitive agreement to acquire assets related to the electronic control systems and parts business of Shenzhen Joyonway Electronics & Technology Co., Ltd and its related entities.
Joyonway operates in two cities, Shenzhen and Dongguan, which are in the hub of electronics and software development in China. The company develops control panels, software, systems and accessories for the health and wellness industry, “This is an excellent demonstration of our flywheel acquisition strategy. With the addition of Joyonway, we cost effectively expand our electronic controls platform with more capabilities, strengthen our supply chain through broader geographic reach, increase our manufacturing capacity to meet growing global demand with the opportunity to improve our margins over time. Joyonway has validated its expertise with the development of intelligent products for the health and wellness market along with the respect and positive feedback from customers. We are excited about our future opportunities and look forward to welcoming the Joyonway team to the Helios family,” says Josef Matosevic, the Helios Technologies President and CEO, in a press release. Terms of the acquisition have not been made public.