Northborough, MA (06-16-2016) –
Mark Ferland, Co-President of The Hope Group LLC, today announced that the company had acquired Connecticut Fluid Power, Inc., of North Haven, Connecticut, effective June 16, 2016. This acquisition increases The Hope Group’s presence in New England and establishes its first location in Connecticut. The company is headquartered in Northborough, MA and now has a total of nine locations in five New England states. In announcing the acquisition, Ferland said, “We are pleased Connecticut Fluid Power, which has a strong reputation in the region as a hydraulic and pneumatic component and system specialist, has joined The Hope Group. The Hope Group is a subsidiary of THG Corporation.
According to Daniel Kay, co-owner of Connecticut Fluid Power, Inc., the sale of the business increases the opportunity for increased success and future growth for both companies. “I am pleased on behalf of our employees and customers to announce that becoming a member of The Hope Group LLC assures that we can continue growing the business and meeting our customer’s critical requirements,” said Kay.
Co-owner, Jeffrey Haynosch, added, “I look forward to expanding our opportunity in the Connecticut marketplace.” Connecticut Fluid Power has been an authorized Parker distributor of hydraulic and pneumatic components and a fabricator of power units and sub-assembly systems for a wide range of customers in the energy, industrial, transportation, and medical markets. The owners stated that all current employees were being retained as part of the sale and that all vendors and customers were being notified of the change in ownership.
Motion and Control Integrators
The Hope Group was founded as a distributor of rubber products for consumers and small businesses during the early years of the depression. Today, it has become a dominant player in the motion and control business in New England, backed by the strength and international presence of Parker Hannifin, a $13 billion company. Parker is best known for its aerospace and motion and control technologies, that are applied through its major core competencies in hydraulics, pneumatics, automation and instrumentation.
An important part of The Hope Group’s operations are its seven Parker Stores, each carrying an inventory of 3,000 parts, which are staffed by factory-trained specialists who help customers identify and select the correct hydraulic hose and fitting for their needs. In addition, the stores serve as distribution and sales hubs for The Hope Group’s outside sales force, which consists of 20 experienced sales engineers with specialties in fluid connectors, fluid power, motion and control technologies and sealing solutions.
History of The Hope Group
The Hope Group was founded in 1933 by the Rhoten family of Massachusetts. For the past 50 years it has been an authorized full-line Parker distributor, featuring hydraulic, pneumatic, automation, instrumentation, o-ring & sealing, and hose & fittings components and systems. From its 60,000 square foot warehouse and manufacturing facility in Northborough MA, the company designs and builds custom machinery for the defense, semiconductor, marine, pulp & paper, mining, power generation, life sciences, and mobile hydraulics markets.
For more information about The Hope Group and its parent company, THG Corporation, please visit its website: www.THGCorporation.com.