Danfoss has officially finalized its $3.3 billion acquisition of Eaton’s hydraulics business following confirmation of all necessary regulatory approvals and closing conditions, Danfoss announced Aug. 2.
The move will see the Danfoss Group grow in size by a third and establish itself as a global leader in mobile and industrial hydraulics, the company said in a press release.
Mobile hydraulics has been one of Danfoss’ core and most successful businesses for over 50 years. The acquisition of Eaton’s hydraulics business is a vital aspect of Danfoss’ growth strategy, the press release said. Eaton’s hydraulics business will be combined with the Danfoss Power Solutions business segment, adding approximately 10,000 employees worldwide and $1.8 billion in 2020 global sales. Combining the two organizations will double the size of Danfoss Power Solutions, increasing its innovation capacity twofold, the statement said.
According to the press release: “The strengthened Danfoss Power Solutions will have the broadest selection of mobile and industrial hydraulics products and solutions available on the market, with the full line offering including fluid conveyance systems. The company’s distribution channels have also been significantly boosted, while its local application support and geographical reach have increased considerably. All of these benefits will enable Danfoss Power Solutions to become an even stronger technology partner for existing and new customers, plus take the lead in digitalization and electrification.”
For more information, visit www.danfoss.com.