Nordborg, Denmark – Danfoss Group has finalised its $3.3 billion (€3 billion) acquisition of Eaton’s hydraulics business, a move which it says will see the group grow by a third and establish itself as a ‘global leader in mobile and industrial hydraulics.’
Following the acquisition, Eaton’s hydraulics business will be combined with the Danfoss Power Solutions business segment, adding 10,000 employees worldwide, Danfoss announced 2 Aug.
The merger, said the group, will double the size of Danfoss Power Solutions and increase its “innovation capacity” two-fold.
The combined business 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 group added.
Furthermore, the acquisition also 'significantly boosts' Danfoss’ distribution channels, local application support and geographical reach, the group statement said.
With sales of $1.8 billion in 2020, Eaton’s hydraulics unit manufactures hydraulics components, systems and services for industrial and mobile equipment.
Among others, the unit manufactures a hydraulic hoses and hose fittings for a variety of applications.