Oshkosh Corporation to acquire Hinowa
Oshkosh Corporation a leading innovator of mission-critical vehicles and essential equipment, has announced that it has entered into a definitive agreement to acquire Hinowa SpA, a privately held international company and leading 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.
“We look forward to welcoming the Hinowa team into the Oshkosh family,” said John Pfeifer, Oshkosh Corporation’s president and chief executive officer. “This acquisition will accelerate our electrification capabilities and provide growth opportunities across core and adjacent markets.”
Hinowa is well-known for its advanced track designs and electrification expertise as an early adopter and leader in lithium-ion battery technology. Hinowa has produced JLG compact crawler boom lifts since 2010, including electric, hybrid and diesel-powered models.
“We are excited to expand our long-term relationship with Hinowa,” said Frank Nerenhausen, executive vice president, Oshkosh Corporation and president, JLG Industries. “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 250,000sqft manufacturing facility and 50,000sqft parts facility with nearly 230 team members. The company has a long history of innovation, offering a diverse line of premium products for work at height and vegetation management applications.
“We are pleased to join Oshkosh Corporation,” 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 the Oshkosh accelerated growth strategy. The transaction, which is subject to customary closing conditions, is expected to close within 90 days.