Oshkosh Corp. has announced an agreement to acquire Italian company Hinowa S.p.A., a manufacturer of track-based aerial work platforms, mini dumpers, lift trucks and undercarriages.
Once complete, Hinowa will become part of the Oshkosh Access Equipment segment, according to a statement announcing the purchase.
“We look forward to welcoming the Hinowa team into the Oshkosh family,” Oshkosh President and CEO John Pfeifer said in the statement. “This acquisition will accelerate our electrification capabilities and provide growth opportunities across core and adjacent markets.”
Oshkosh's defense subsidiary earlier this year unveiled a hybrid-electric variant of the Joint Light Tactical Vehicle.
“We are excited to expand our long-term relationship with Hinowa,” Frank Nerenhausen, Oshkosh Corp. executive vice president and president of the company's JLG Industries, said in today's statement. “Combining our capabilities will enable us to better serve customers and expand our operational footprint in Europe.”
Hinowa was founded in 1987 in Nogara, Italy and today has an approximate 250,000-square-foot manufacturing facility and 50,000-square-foot parts facility with nearly 230 employees.
“We are pleased to join Oshkosh Corp.,” said Dante Fracca, founder and owner of Hinowa. “Our successful 12-year relationship with JLG, along with shared core values around culture, safety, productivity and sustainability position us well for the future.”
The Hinowa acquisition supports Oshkosh's "accelerated growth strategy," according to the announcement. The transaction is expected to close within 90 days.