HydraForce signs acquisition agreement with Bosch Rexroth
HydraForce, Inc., headquartered in Lincolnshire, IL, USA, plans to join Bosch Rexroth's growing portfolio of Compact Hydraulics products, expanding reach and support for customers. Bosch Rexroth, a subsidiary of Bosch, based in Lohr am Main, Germany, is a growing leader in Mobile and Industrial hydraulics products. Bosch Rexroth USA has a corporate campus in Hoffman Estates, IL.
Bosch Rexroth and HydraForce signed a respective contract on July 15, 2022. Both sides agreed to keep the purchase price confidential. The transaction is subject to anti-trust approval.
"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," says Mike Terzich, President and CEO of HydraForce.
"With its diversified portfolio and international setup, Bosch Rexroth has a strong foundation. 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," says Frank Hess, Vice President Compact Hydraulics Business Unit of Bosch Rexroth.
Combined Forces in Hydraulics and Motion Control
HydraForce's extensive portfolio of products perfectly complement the existing product portfolio of Bosch
Rexroth's Compact Hydraulic Business Unit. Within Bosch Rexroth, the business unit designs, 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 US, Germany and Italy. The business unit employs approximately 1,800 associates. HydraForce employs approximately 2,100 associates, most of which are located at six production locations in the US, Brazil, United Kingdom and China.
The acquisition enhances regional customer support and additional sales channels. In addition to the complementary product portfolios, the regional sales structures of HydraForce and Bosch Rexroth complement each other perfectly as well: The combined activities will thus create a well-balanced entity in North/South America, Europe, and will also support further growth activities in Asia Pacific.
Furthermore, the addition of HydraForce will significantly improve Bosch Rexroth's global market access through indirect sales channels (e.g. dealers and system integrators) which aligns with the long-term strategic target of Bosch Rexroth.
HydraForce was first established in Chicago, USA in 1985 and today has manufacturing facilities across the world, including North America, Great Britain, Brazil and China. The company designs and manufactures high performance hydraulic fluid power cartridge valves, custom manifolds, and electro-hydraulic controls. It has created thousands of custom control solutions for a variety of off-highway industries, encompassing farming, construction, marine, material handling, mining, and forestry.