Chesterfield, Mich.—After a year of ownership by Stonebridge Partners, Hydraulex Global will add Ken Best to its senior leadership team to enhance its ability to serve the hydraulics remanufacturing, repair and distribution markets.
CEO Shirish Pareek said, “Ken is a key addition to our senior leadership team and adds valuable customer focus to the company. He is a high integrity and thoughtful sales leader who will help us build a best-in-class sales and marketing organization to support all Hydraulex Global customers including those of Attica and HRD as well as future acquisitions.”
Mr. Best, former VP of Sales and Marketing for Festo Corp., a global leader in manufacturing of pneumatics systems and equipment, managed a 200-person team with annual revenues in excess of $100 million.
“We are especially excited about Ken’s strategic thinking, channel knowledge and ‘customer first’ philosophy,” Pareek said. “Ken will work to expand the products, services and customer base of the company and ensure we gain the desired synergies among the various Hydraulex Global companies.”
“This is a very exciting time for Hydraulex Global,” said Best. “The company is positioned to offer uncommon value to the Industrial, Mining, and Construction industry. The quality and breadth of products offered by Attica and HRD are unique in the market and aligned well with the needs of industrial distribution houses, hydraulic repair companies, hydraulic dealers and customers in the construction and mining industries.”
Hydraulex Global was formed through the acquisition of Attica Hydraulic Exchange and Hydraulic Repair and Design and is headed by Shirish Pareek. The company is a worldwide remanufacturer and distributor of all major makes and brands of quality hydraulic pumps, motors, valves/servo and cylinders for a vast variety of industrial, mobile, mining and oil-field applications. It currently employs more than 200 people in corporate, engineering, and manufacturing.
Hydraulex Global has been majority owned by Stonebridge Partners, a private equity firm based in White Plains, New York, since July 2011.