Bosch Rexroth announced that it plans to acquire HydraForce and expand its hydraulics business.
Bosch Rexroth and HydraForce signed an agreement to that effect on July 15, 2022. The purchase price will not be disclosed. The transaction is subject to antitrust approvals.
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.
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 hydraulics is particularly valuable due to its high power density and capabilities regarding essential secondary functions in hydraulic systems.
“With its diversified portfolio and international setup, Bosch Rexroth has a strong foundation,” Frank Hess, Vice President of the compact hydraulics business unit of Bosch Rexroth, said in a press release. “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.”
The compact hydraulics business unit currently employs 1,800 associates and has four manufacturing locations in China, the U.S., Germany, and Italy.
“With Bosch Rexroth, we found a great partner who values and shares similar views on innovation, customer focus, application expertise, and culture,” Mike Terzich, president and CEO of HydraForce, said in the press release. “I believe the new ownership will create great opportunities for our customers, partners and employees and lead to sustained growth.”
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, the press release said.
For more information, visit www.bosch.com.