Bosch Rexroth plans to acquire HydraForce, Inc. This acquisition will expand the company’s hydraulics business, particularly in North America.
“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 Mike Terzich, president and CEO of HydraForce.
Based in Lincolnshire, Illinois, HydraForce manufactures compact hydraulic valves and solutions. It has 2,100 employees at six production sites in the U.S., Brazil, Great Britain and China. Bosch Rexroth and HydraForce signed an agreement for the planned acquisition on July 15, 2022. The purchase price will not be disclosed. The transaction is subject to antitrust approvals.
“By acquiring HydraForce, we are expanding our presence in complementary geographies and developing a more balanced footprint in Europe and North America, while also enabling growth in Asia,” said Rolf Najork, member of the board of management of Robert Bosch GmbH and CEO of Bosch Rexroth AG.
The combined activities ensure a diverse range of compact hydraulic solutions for customers. While Bosch Rexroth offers a wide range of compact hydraulic components and systems, HydraForce produces mechanical and electrical cartridge valves and hydraulic integrated circuits. Compact hydraulic components are particularly valuable because of:
- Their high power density
- Ability to perform well in essential secondary functions of hydraulic systems; for example, they ensure that excavator loads are lifted and lowered safely and precisely
“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,” said Frank Hess, vice president, Compact Hydraulics Business Unit, Bosch Rexroth.
The Compact Hydraulics Business Unit currently employs 1,800 people and has four manufacturing locations in China, the U.S., Germany and Italy. Get more information by checking out the announcement from Bosch Rexroth.