Danfoss Power Solutions has entered into an agreement to acquire Hydro Holding Spa, a leading manufacturer of hose fittings headquartered in Castello d’Argile, Italy.
According to a press release, Hydro Holding will become part of Danfoss Power Solutions’ Fluid Conveyance division, led by Domenico Traverso. The Fluid Conveyance division is a leading global manufacturer of hoses and fittings with renowned brands, such as Aeroquip, Weatherhead, Hansen and Waltech. The acquisition supports the division’s strategic focus to accelerate profitable growth in line with Danfoss’ LEAP 2030 strategy. Hydro Holding will strengthen Danfoss’ hose fittings portfolio and enable the company to become a leading player in Europe.
Hydro Holding Spa
The move is aimed at strengthening hose and fitting expertise in the European market and expanding market share, while meeting the needs of Danfoss customers.
Hydro Holding's range of products includes carbon and stainless steel fittings and adapters, hose assemblies, and formed steel tubing. Its products are used in the material handling, oil and gas, agriculture, marine, construction, mining, and chemical sectors. The company has a presence in Europe with four locations in Italy, one in the Czech Republic, and a sales office in the UK. Hydro Holding is the result of a buildup strategy that started in 2015 with the acquisition of two leading independent Italian hose fittings producers, Tieffe and FB Hydraulic, and continued in 2017 with the integration of Raccorfer, a cold forming steel producer, and MCS Hydraulics, a manufacturer of stainless steel fittings.
Danfoss Power Solutions’ Fluid Conveyance division manufactures hoses and fittings for a variety of equipment and applications, including vehicles, aircraft, mining, food and beverage, and mobile and industrial equipment. Product ranges include hydraulic hose and fittings, engine and air conditioning hose and fittings, industrial hose and fittings, thermoplastic hose and fittings, connectors and quick-disconnect couplings, and hose machines, tools and accessories. Its products are manufactured under the brand names Aeroquip, Weatherhead, Winner, Boston, Synflex, and SEL.
The acquisition is subject to necessary approvals by relevant agencies, such as competition authorities. It is expected to be fully completed by the end of the year.
