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Enovation Controls, a Sun Hydraulics subsidiary in Tulsa, Oklahoma, announced a merger with fellow Sun subsidiary High Country Tek, which operates in Nevada City, California. The merger is scheduled for December 31, 2017.
Sun Hydraulics agreed to acquire the Power Controls and Vehicle Technologies business lines of Enovation Controls, LLC for an initial $200M plus up to $50M earn-out, expected to close within 30 days.