Danfoss formally completes acquisition of Eaton’s hydraulics business
Danfoss has officially finalized its US$3.3 billion (approximately €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 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 US$1.8 billion (around €1.5 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. Earlier this year, we also began to offer industrial fluid conveyance solutions at Technotrade as a part of broadening our services and product portfolio. We agreed on a co-operation with the local branch of Eaton hydraulics, which has been our supplier of hydraulic hoses, fittings and other fluid conveyance components. That means that the acquisition of Eaton’s hydraulics business will not have any significant effect for our customers, since the products we work with and use for designing conveyance solutions will effectively remain unchanged.
„As a long-term major partner of Danfoss Power Solutions, we are pleased that with the transaction being finalized, we will be able to offer a wider range of products under one brand. From the perspective of our customers, this change will be more of a formal regrouping of the product categories we currently offer,“ says Jakub Kejduš, managing director of Technotrade, the only official distributor of Danfoss Power Solutions for Czech Republic and Slovakia.
„Eaton’s hydraulic portfolio is no news for us, since we have co-operated with this manufacturer and used its products for several months now. As a part of designing and delivering fluid conveyance solutions, we have experience with using Eaton hydraulic hoses, fittings and other related equipment. Additionally, we have been able to receive an international DNV certification that allows us to supply hydraulic hoses and fittings for marine applications. In fact, Technotrade is the only supplier with this certification in the Czech Republic and Slovakia. It is great news that we will be able to continue working with the high quality products even after the acquisition, even though they will be produced under a different name,“ adds Jakub Kejduš.
In case you have any questions related to the Eaton hydraulics acquisition, feel free to reach our to our managing director Jakub Kejduš at email@example.com.
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