Eaton’s Hydraulics Line to be Acquired by Danfoss

Danfoss, a Danish manufacturer, recently announced that it will acquire Eaton’s Hydraulics business for a cash purchase price of $3.3 billion. “We are taking a significant and transformational step in creating a global leader in mobile and industrial hydraulics. It is a once-in-a-lifetime opportunity to combine our largely complementary portfolios and geographic footprints,” said Danfoss president and CEO Kim Fausing.

The Danfoss and Eaton Hydraulics businesses are leaders in the industry, and share a similar company culture and a focus on customers, R&D and quality. Both businesses have complementary geographic footprints and the combined business creates a broader presence across the world. The acquisition will enable Danfoss to enter the industrial hydraulics market currently served by Eaton Hydraulics.

Eaton Hydraulics provides products for customers in the industrial space as well as the agriculture and construction markets. The business will be transferred into the existing Danfoss business segment, Danfoss Power Solutions, adding approximately 11,000 employees and 2019 sales of $2.2 billion to the business segment. The transaction will increase Danfoss’s size by one-third.

The transaction is subject to closing conditions and regulatory approvals and is expected to close by the end of 2020.

Image credit: Danfoss and Eaton

Previous articleNewAge New Clearflo 70 Phthalate-Free Tubing
Next articleDeveloping Sustainable Solutions for Global Challenges