Hgglunds Drives acquires Rineer Hydraulics
Mellansel, Sweden -- Hgglunds Drives Inc. has signed an agreement to acquire the assets of Rineer Hydraulics Inc. ...
Mellansel, Sweden — Hgglunds Drives Inc. has signed an agreement to acquire the assets of Rineer Hydraulics Inc. This acquisition will complement Hgglunds Drives’ product offering and immediately strengthen its position in the North American market.
Hgglunds Drives will acquire the operations of Rineer Hydraulics through an asset purchase. Rineer manufactures and sells hydraulic motors for myriad applications including oil and gas drilling, off-road equipment, agricultural applications, pump drives, and various mobile equipment applications. The company has enjoyed strong and profitable revenues growth over the past several years, and the future looks equally bright.
Hgglunds Drives is a supplier of hydraulic motors and complete drive systems. The Group develops manufactures and markets drive system solutions for high torque, and low- and variable-speed applications. Hgglunds drive systems are used in a wide range of industries including mining and materials handling, recycling, marine and offshore, pulp and paper, rubber and plastic, sugar, and building and construction. The Group has 16 subsidiaries, personnel in over 20 countries, 50 sales and service offices, and distributors in 20 countries.
Rineer’s headquarters will remain San Antonio, Texas, where it has about 80 employees.
“The acquisition of Rineer Hydraulics will complement and strengthen our product offering and our position in the North American market. It will give the Hgglunds Drives group the first fully-integrated manufacturing facility in the U.S., and a further expanding of our global footprint. In the future, we will be able to offer Rineer’s products on a global market through our strong global sales organisation,” comments Hgglunds Drives’ CEO Per Nordgren.
Ted Bojanowski, president of Hgglunds Drives Inc., commented that “we are pleased to add the Rineer company to our portfolio. There is very little overlap in product line or customer base, this acquisition is truly expansive for Hgglunds Drives Inc. We intend to maintain the Rineer brand, and will continue to run this company as a stand-alone entity. Rineer goes to market through different channels in North America, and we intend to continue to support their highly-effective partner distributors.”
For more information, visit www.hagglunds.com.