Oshkosh Corporation to acquire Hinowa
By Adam FreillConstruction Equipment
Manufacturer of track-based aerial work platforms, mini dumpers, lift trucks and undercarriages to become part of Oshkosh Access Equipment.
Oshkosh Corporation has entered into a definitive agreement to acquire Hinowa S.p.A., a privately held international manufacturer of track-based aerial work platforms, mini dumpers, lift trucks and undercarriages. Upon completion of the deal, 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 known for its advanced track designs and electrification expertise as an early adopter of lithium-ion battery technology. The company 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 of Oshkosh Corporation and president of JLG Industries. “Combining our capabilities will enable us to better serve customers and expand our operational footprint.”
“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 transaction, which is subject to customary closing conditions, is expected to close within 90 days.