PR97058

LINCOLNSHIRE, Ill., July 19, 2022 /PRNewswire=KYODO JBN/ --

  -- Two complementary players unite to offer comprehensive product portfolio

     for mobile and industrial applications

  -- Joint portfolio broadens global offering

  -- Customers benefit from additional sales channels

  -- Combined business to leverage complementary strengths

HydraForce, Inc. plans to join Bosch Rexroth's growing portfolio of Compact

Hydraulics products, expanding reach and support for customers. Bosch Rexroth,

a subsidiary of Bosch, based in Lohr am Main, Germany, is a growing leader in

Mobile and Industrial hydraulics products.  Bosch Rexroth and HydraForce signed

a respective contract on July 15, 2022. Both sides agreed to keep the purchase

price confidential. The transaction is subject to anti-trust approval.

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"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.

"With its diversified portfolio and international setup, Bosch Rexroth has a

strong foundation. 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," says Frank Hess, Vice President Compact Hydraulics

Business Unit of Bosch Rexroth.

Combination creates a broader and deeper product portfolio

HydraForce's extensive portfolio of products perfectly complement the existing

product portfolio of Bosch Rexroth's Compact Hydraulic Business Unit. Within

Bosch Rexroth, the business unit designs, manufactures and markets compact

hydraulic components for applications such as earth moving, cranes, aerial

platforms, agricultural machinery, and industrial applications at its four

locations in China, the US, Germany and Italy. The business unit employs

approximately 1,800 associates. HydraForce employs approximately 2,100

associates, most of which are located at six production locations in the US,

Brazil, United Kingdom and China.

The acquisition enhances regional customer support and additional sales channels

In addition to the complementary product portfolios, the regional sales

structures of HydraForce and Bosch Rexroth complement each other perfectly as

well: The combined activities will thus create a well-balanced entity in

North/South America, Europe, and will also support further growth activities in

Asia Pacific. Furthermore, the addition of HydraForce will significantly

improve Bosch Rexroth's global market access through indirect sales channels

(e.g. dealers and system integrators) which aligns with the long-term strategic

target of Bosch Rexroth.

About HydraForce

HydraForce was first established in Chicago, USA in 1985 and today has

manufacturing facilities across the world, including North America, Great

Britain, Brazil and China.  The company designs and manufactures high

performance hydraulic fluid power cartridge valves, custom manifolds, and

electro-hydraulic controls. It has created thousands of custom control

solutions for a variety of off-highway industries, encompassing farming,

construction, marine, material handling, mining, and forestry.

HydraForce Media Contact:

David Price davidp@hydraforce.com

(847) 793-2300, Ext. 3511

SOURCE: HydraForce, Inc.