Stonebridge Partners Completes Acquisition of Attica Hydraulic Exchange

Stonebridge Partners announced that it has completed the acquisition of Attica Hydraulic Exchange. Attica is the third equity investment made by Stonebridge Partners Equity Fund IV, L.P.

Attica, based in Chesterfield, Mich., rebuilds and repairs hydraulic components, including pumps, motors, valves and electronic fluid controls, which are used for the maintenance and repair of in-plant and mobile machinery and equipment. The company also provides value-added distribution of aftermarket hydraulic components. 

Stonebridge also named Shirish Pareek the CEO of the new holding company called Hydraulex International. Stonebridge says that the new holding company intends to acquire complementary hydraulics companies to augment the Attica platform company.

"We have formed Hydraulex International with the objective of becoming the premier worldwide remanufacturer and distributor of all major makes and brands of quality Hydraulics Pumps, Motors, Valves/Servo and Cylinders for a vast variety of Industrial, Mobile, Mining and Oil-field applications,” says Pareek. “We plan to provide the broadest offering of quality hydraulic products and fastest delivery times to our customers. And, we will do this by significantly expanding Attica’s offering as well acquiring well-positioned, quality hydraulics remanufacturing and distribution businesses in various parts of North America and overseas.”

Stonebridge adds that Attica’s top management team will remain with the company. William Wildner, Jr. will remain as president, PK Guha will oversee all sales and marketing activities, Cathy Ayers will continue to be the vice president of Operations, and Sam Caruso has been promoted to vice president of Materials Management.