Fortress Investment Group announced that funds managed by its affiliates have acquired TH Holdings, a diversified industrial manufacturer consisting of Texas Hydraulics, Hydromotion, and Oilgear, which manufacture highly engineered, custom-designed hydraulic components. Their products are used in heavy-duty mobile equipment for fire and rescue, forestry, mining and utility; in the industrial sector across aerospace, chemicals, civil, defense, extrusion and forging sectors; and in the energy sector in hydroelectric, nuclear, offshore, and subsea applications.
Funds managed by affiliates of Fortress have acquired a majority of TH Holdings’ equity, with the company's management team holding a minority stake.
The group offers end-to-end services for hydraulic components, from bespoke engineering to after-market support. The services and components are used by original equipment manufacturers (OEMs) and aftermarket customers across a wide range of heavy-duty and extreme-duty applications.
TH Holdings serves the mobile, industrial, and energy markets through its subsidiaries: Texas Hydraulics designs and manufactures large bore, long stroke cylinders; Hydromotion designs and manufactures hydraulic swivels and electrical slip rings; and Oilgear designs and manufactures pumps, valves, and controls.
Patrick Taylor, CEO of TH Holdings and each of the companies, said: “We are excited to partner with Fortress. Their experience across the industrial sector and commitment to deploying additional capital for growth will be valuable as we invest in innovation. With the continued investment into North American infrastructure, industrial reshoring and expansion, we see compelling opportunities to expand our presence in existing markets while also branching into new markets and broadening the applications of our products and services.”
The complementary capabilities of Texas Hydraulics, Hydromotion, and Oilgear help their customers to solve mission-critical challenges. The companies’ long history of commitment to consistent, high-quality precision engineering has earned them industry-leading certifications, including from Lloyd's Register Quality Assurance certification, and reputations for advancing industry standards in performance, durability, and reliability.
Ben Green, Director at Fortress, added: “We believe that Texas Hydraulics is a company with a strong management team, differentiated products, leading market share in key markets, and strong growth potential. We are looking forward to working with Patrick and his team to invest in the company’s operations, foster product innovation, and expand its products and customer base."
