Northborough, MA (11-05-2019) – In a letter on November 5, 2019 to The Hope Group’s customers and vendors, Mark Ferland, Vice President and General Manager, announced that The Hope Group will be joining forces with SunSource. SunSource, also known as STS Operating Inc., is a privately-held, nationally-operated fluid power distributor, systems solutions and service provider that has been in business for more than 95 years. “The Hope Group (THG) business is highly complementary to SunSource, and both SunSource and The Hope Group are known in our respective markets for our strong customer support, inventory positions and service excellence,” said Mr. Ferland.
The announcement of the acquisition was made at a general company meeting on Thursday, October 31, 2019 at the corporate headquarters and which was available for employees at all branch locations by phone conference. Representatives from SunSource were present at the meeting to make the announcement and to welcome THG to SunSource.
In a letter addressed to current customers and vendors of The Hope Group, Mr. Ferland stated, “This is an exciting time for The Hope Group as we move forward with SunSource in the Northeast.” SunSource is one of North America’s leading fluid power distribution companies and provides products, services and information in hydraulics, pneumatics, filtration, automation systems, and related industrial components much like The Hope Group does. THG brings a new customer region, the Northeastern United States, and extended product lines to SunSource, while SunSource offers the financial stability and strong platform for THG to grow. With SunSource, THG anticipates it will invest in further support for our customers and suppliers through the next generation of inventory management, fulfillment and purchasing power.
Effective October 31, 2019, “The Hope Group is no longer part of Boeing Distribution Services Inc. There will be no changes to your contact person at The Hope Group,” said Mr. Ferland. He added, “Our customers can expect the same partnership, support and industry-leading service that The Hope Group provides today.”