Bosch Rexroth acquires Hgglunds Drives
Stockholm, Sweden -- Ratos AB of Stockholm, Sweden, has agreed on the sale of Hgglunds Drives of Mellansel, Sweden...
Stockholm, Sweden — Ratos AB of Stockholm, Sweden, has agreed on the sale of Hgglunds Drives of Mellansel, Sweden, to the German company Bosch Rexroth AG of Lohr am Main, Germany. Ratos, an acronym for Ragnar and Torsten Sderberg, is a Swedish private equity company.
“Focused efforts in recent years to accelerate growth through investment in the sales and marketing organization, new markets and segments, and expanded aftermarket services, as well as extensive product development, have laid the foundation for Hgglunds Drives’s positive development”, says Ratos CEO Arne Karlsson.
“Together with Bosch Rexroth we will be able to further develop our focus on offering complete hydraulic drive systems in several of our existing segments. We will also be able to offer our deliveries of complete hydraulic drive systems to new, interesting segments as renewable energy production.
“Combined with Bosch Rexroth’s strong position on specific markets where we’re not represented today, we will have a good position for continued strong growth,” says Per Nordgren, CEO of Hgglunds Drives.
“The acquisition of Hgglunds Drives expands our industrial hydraulics portfolio and significantly strengthens our position in growing markets, such as renewable energies and raw materials production,” says Dr. Albert Hieronimus, chairman of the executive board of Bosch Rexroth AG.
Bosch Rexroth, a subsidiary within the German Robert Bosch GmbH, is a major supplier within the drive and control technology markets. The company develops, produces and sells Bosch Rexroth components and systems in more than 80 countries.
In 2007, Bosch Rexroth posted sales of EUR 5.4 billion and had approximately 33,000 employees. For more information visit www.boschrexroth.com
Hgglunds Drives is a supplier in the hydraulic motors and drive systems niche. The group develops, manufactures and markets drive system solutions for high-torque, low-speed and variable-speed applications. Hgglunds drive systems are used in a wide range of industries, such as mining and materials handling, recycling, marine and offshore, pulp and paper, rubber and plastic, sugar, and building and construction.
Hgglunds Drives has about 860 employees. Turnover for 2007 was 1 761 MSEK, with an operating profit of 360 MSEK. Production is located in Mellansel, Sweden, San Antonio, Texas and Columbus, Ohio. The Group has 16 subsidiaries, personnel in over 20 countries, including Canada, and around 50 sales and service offices. In addition, there are distributors in around 20 countries. The largest geographical markets are Europe, China, India, Australia and North America.