MPS buys HKX, entering construction equipment market
What's the deal? Multi Parts Solutions (MPS)Dealroom has a profile for this one. Try Dealroom → has acquired HKX, Inc.Dealroom has a profile for this one. Try Dealroom →, a Monroe, Washington-based manufacturer of auxiliary hydraulic kits and control-system solutions for excavators and heavy equipment. The deal marks MPS's entry into the construction equipment market. Terms were not disclosed.
Who's who? HKX, founded in 1993, builds install-ready kits that let machines run attachments such as breakers, thumbs, shears and rotating tools. Multi Parts provides global engineering, sourcing, testing, manufacturing and quality capabilities across the markets it serves.
What's the endgame? HKX becomes Multi Parts' third operating division, alongside ACC Heavy DutyDealroom has a profile for this one. Try Dealroom → for commercial vehicles and MPS AutomotiveDealroom has a profile for this one. Try Dealroom → for the automotive aftermarket. The Jupiter, Florida-based company plans to invest in HKX so its team can develop more products and support more customers.
Why HKX? Its particular strength is controls. As machines have moved from mechanical pilot controls to electro-hydraulic and CAN-based systems, HKX can add or augment controls within a machine's own electronics, so upgraded equipment runs without error codes.
What changes for customers? Little, day-to-day. HKX will keep operating from its Monroe facility, and vice president and general manager Robert Burnett will continue to lead the division. Customers gain access to broader engineering resources and a deeper bench for new product development.
"We are inheriting a talented team known for responsiveness, application-focused engineering and dealer collaboration," said chief executive officer Brian Cohn. "Our focus is straightforward: invest in HKX so the team can develop more products, support more customers and scale what already makes the business great."
The signal: The deal lets Multi Parts apply hydraulic and controls expertise beyond construction equipment, and opens the door to working with additional equipment manufacturers and dealer groups seeking an engineering partner for specialized applications.
Image credit: Generated with Gemini
Read more: PR Newswire
