HydraForce, a hydraulically powered mobile equipment manufacturer based in the United States, has signed an acquisition agreement to join Bosch Rexroth’s company hydraulics product portfolio.
German company Bosch Rexroth specialises in mobile and industrial hydraulics products.
As part of the agreement, HydraForce’s portfolio of products will be added to the solutions developed by Bosch Rexroth’s Compact Hydraulics Business Unit.
The Bosch unit manufactures and markets compact hydraulic components for applications such as earth moving, cranes, aerial platforms, agricultural machinery, and industrial applications at its four locations in China, the United States, Germany and Italy.
“The acquisition of HydraForce expands our global market access through indirect sales channels: Sales partners and system integrators will become important target groups. In these challenging times, we are also helping to stabilize regional supply chains so that we can support our customers even better,” said Frank Hess, vice president of Bosch Rexroth’s Compact Hydraulics Business Unit.
The deal is also expected to allow the two companies to facilitate further growth in the Asia Pacific. It will also improve Bosch Rexroth’s global market access through indirect sales channels, which align with the long-term strategic target of the company.
“With Bosch Rexroth, we found a great partner who values and shares similar views on innovation, customer focus, application expertise, and culture. I believe the new ownership will create great opportunities for our customers, partners and employees and lead to sustained growth,” said HydraForce President and CEO Mike Terzich.
The companies did not disclose the purchase price and the transaction is subject to anti-trust approval.
