Danfoss has officially finalised its US$3,3 billion acquisition of Eaton’s hydraulics business, following confirmation of all necessary regulatory approvals and closing conditions. The move will see the Danfoss Group grow by a third and establish itself as a global leader in mobile and industrial hydraulics.
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. Eaton’s hydraulics business will be combined with the Danfoss Power Solutions business segment, adding approximately 10 000 employees worldwide and US$1,8 billion in global sales.
The strengthened Danfoss Power Solutions will have one of the broadest selections of mobile and industrial hydraulics products and solutions available on the market, with a 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. These benefits will enable Danfoss Power Solutions to become an even stronger technology partner for existing and new customers, plus take the lead in digitalisation and electrification.
Danfoss president and CEO, Kim Fausing, commented: “This is a great day for Danfoss as we welcome 10 000 new colleagues into the organisation and create a global leader in mobile and industrial hydraulics. By combining the knowledge and experience of the two strong teams, our customers will receive an unmatched level of service and expertise from a single partner. We will continue our investments to stay on the forefront of technology leadership and provide solutions that improve productivity and reduce emissions to meet the requirements of the future.”
Paulo Ruiz, president of the former Eaton hydraulics business, added: “This is an exciting new chapter for both of our businesses and people, we are stronger together. The new Danfoss Power Solutions team will create a global leader in mobile and industrial hydraulics, drawing on long legacies of innovation and industry-leading expertise. The combined product portfolio and broadened global reach will better serve customers and distributors all around the world.”
Enquiries: www.danfoss.co.za
