Acquisition of Pacoma Hydraulic Technologies by Leggett & Platt, Inc.

Dear customers, suppliers and business partners, We are pleased to announce the acquisition of Pacoma Hydraulic Technologies by Leggett & Platt, Inc.

Leggett & Platt is a global manufacturer of engineered components for a wide range of industrial, commercial and consumer markets. Leggett had annual sales of $5 billion (35% international) in 2021 and has 130 manufacturing facilities in 17 countries. The company's headquarters are located in the United States, in Carthage, Missouri, where the company was founded in 1883.
In 2017, Leggett & Platt made the strategic decision to enter the hydraulic cylinder market. In January 2018, Precision Hydraulic Cylinders (PHC) was acquired as the first step of this strategic initiative.
PHC is a global manufacturer of hydraulic cylinders primarily for material handling applications and specializes in single-acting cylinders with small diameters and short delivery times. PHC is headquartered in Wilmington, North Carolina and has 2 factories in North Carolina, one factory in Chennai, India, and one plant in Cramlington, United Kingdom.
The combination of Pacoma and PHC expands the product range, customer base and geographic presence of both companies.
We believe this will lead to significant opportunities to create additional value for both companies' customers.
Together, Pacoma and PHC form Leggett & Platt Hydraulics. Pacoma and PHC will operate within Leggett & Platt Hydraulics as sister companies with their own management teams and brands.
Leggett & Platt Hydraulics is led by, David Brown, President, Leggett & Platt Hydraulics.
For you as a customer, supplier or business partner of Pacoma, everything remains unchanged in your daily business, the current processes in connection with invoicing, receipt of payment, acceptance of orders are not changed.
After 13 years of very successful leadership, Mr. Phil Liao is stepping down from his position as Chief Executive Officer of Pacoma.
We thank Mr. Liao for his great work and are pleased that Mr. Liao will continue to support Pacoma and Leggett as Senior Executive Consultant.

Mr. Douglas Rohn will continue his current role as President of Pacoma.

We are looking forward to working together and look forward to a successful future together.