Vandalia, OH (PRWEB) April 01, 2015
Triad Technologies, LLC (Triad) a leading distributor of fluid power and automation products, announced today it has acquired Mega Fluidline Products, Inc. (Mega) to further expand its product offering in key Ohio markets. Mega Fluidline Products, Inc. is headquartered in Akron, Ohio, where it has served regional customers for over 39 years.
Mega Fluidline Products, Inc. is an authorized Parker Hannifin full-line fluid connector, hydraulic, pneumatic and seal products distributor. In addition to Akron, Mega has five ParkerStore™ locations serving Northeast Ohio. Mega supplies both original equipment manufacturers and end users with direct access to the Parker products, along with complementary product offerings and factory-trained personnel. It is known as a leader in its served market and enjoys an exceptional reputation with its manufacturers and customers.
“We are pleased to welcome the strong management team and workforce of Mega to the Triad family. The commitment to service, technical expertise and support complements our strategy perfectly. This acquisition represents the next step in implementing our strategy to continue building scale and to develop a strong fluid power and motion control company, with Parker Hannifin as our leading supplier,” stated Doug Wissman President and Chief Executive Officer of Triad Technologies, LLC. “The Mega business is highly contiguous, and as a result, Triad will own the largest Ohio network of ParkerStores™ with thirteen locations. Together, we will enhance our ability to serve our customers with an expanded portfolio of products as well as a number of new services and capabilities,” stated Mr. Wissman.
Peter Newell, President of Mega Fluidline Products, Inc. added, “This combination is a tremendous opportunity for both companies and our employees. We have virtually no geographic and customer overlap, which will allow us to offer a broader portfolio of products and services to the customers of both companies. This will better position Mega, to meet the needs of our customers and make more growth and development opportunities available to our employees as they join a much larger organization. Both companies are aligned culturally and expect an orderly transition as we are excited and looking forward to joining the Triad team.”
Whitestone Associates, LLC acted as the exclusive transactional advisor to Triad, working closely with management and Mega throughout the process. This included providing advisory expertise and facilitating the intention, negotiation and due diligence phases of the transaction.
About Triad Technologies, LLC:
Triad Technologies, LLC is a leading Ohio-based distributor of hydraulic, pneumatic, electromechanical, filtration and lubrication technologies. Triad is a premier full-service stocking distributor, Hydraulic Technology Center (HTC), Pneumatic Technology Center (PTC) and Automation Technology Center (ATC) of Parker Hannifin. With eight locations throughout Ohio, Triad provides product expertise, critical application knowledge and custom solutions to its customers with an emphasis on value-added services, including: technical support, 24/7 field service, and system design, hose assembly and repair service (http://www.triadtechnologies.com).
About Whitestone Associates, LLC:
Whitestone Associates is a niche market investment firm, specializing in the fluid power industry that provides transactional services, including mergers-and-acquisitions facilitation, strategic planning, business development, and private capital raising (http://www.whitestone.net). On behalf of Whitestone Associates, LLC: Frank Gallucci