Bosch Rexroth plans to expand its hydraulics business by acquiring HydraForce, based in Lincolnshire, Illinois.
HydraForce develops and manufactures compact hydraulic valves and solutions with 2,100 associates at six production sites in the U.S., Brazil, Great Britain, and China. Bosch Rexroth and HydraForce signed an agreement to that effect on July 15.
The purchase price will not be disclosed, and the transaction is subject to antitrust approvals.
With the planned acquisition of HydraForce, Bosch Rexroth is growing its footprint in North America, further expanding its sales network and gaining better market access. “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,” says Rolf Najork, member of the board of management of Robert Bosch GmbH and CEO of Bosch Rexroth AG.
“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.
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 (HIC). Compact hydraulics is particularly valuable due to its high power density and capabilities regarding essential secondary functions in hydraulic systems. For example, they ensure that excavator loads can be lifted and lowered safely and precisely.
Source: Bosch Rexroth
