Danfoss has officially finalised its $US3.3 billion acquisition of Eaton’s hydraulics business.
Eaton’s hydraulics business will be combined with the Danfoss Power Solutions business segment, adding approximately 10,000 employees worldwide.
The move will see the Danfoss Group grow in size 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 $US1.8 billion in 2020 global sales.
Combining the two organizations will double the size of Danfoss Power Solutions, increasing its innovation capacity twofold.
The strengthened Danfoss Power Solutions 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 company’s distribution channels have also been significantly boosted, while its local application support and geographical reach have increased considerably.
Danfoss president and CEO, Kim Fausing, welcomed new staff to the company’s workforce.
“By combining the knowledge and experience of the two strong businesses and great teams, our customers will receive an unmatched level of service and expertise from a single partner,” he said.
Danfoss Power Solutions president, Eric Alstrom, said the need for technologically innovative and industry-changing hydraulic solutions is as great as ever.
“Combining the two robust businesses represents a perfect match and provides countless opportunities, such as increasing our engineering expertise and capabilities, doubling our global application support and extending the value of our Application Development Centres and digital design tools," he said.
"Adding fluid conveyance and industrial applications are other assets gained through this transaction."