Danfoss to acquire Hydro Holding Spa

Danfoss Power Solutions announced it has entered into an agreement to acquire Hydro Holding Spa, a manufacturer of hose fittings headquartered in Castello d’Argile, Italy.

Hydro Holding’s products include carbon and stainless steel fittings and adapters, hose assemblies and formed steel tubinge. (Photo: Danfoss Power Solutions)

Hydro Holding’s products include carbon and stainless steel fittings and adapters, hose assemblies and formed steel tubinge used in the material handling, oil and gas, agriculture, marine, construction, mining and chemical sectors. The company has four locations in Italy, one in the Czech Republic and a sales office in the UK. Its annual turnover is EUR 60 million, and it has a team of 350 employees.

Hydro Holding will become part of Danfoss Power Solutions’ Fluid Conveyance division, which produces hoses and fittings under such brands as Aeroquip, Weatherhead, Hansen and Waltech. The acquisition is intended to strengthen Danfoss’ hose fittings portfolio and enable the company to become a leading player in Europe.

“By combining the strong market position of Hydro Holding’s fittings business with Danfoss’ hose portfolio, we will be able to offer even more integrated and differentiated solutions to our European customers,” said Domenico Traverso, president, Fluid Conveyance, Danfoss Power Solutions.

“Bringing Hydro Holding into the Danfoss Fluid Conveyance business is a perfect fit for both organizations. We will create a hose and fitting powerhouse in Europe, and together, we will be able to realize synergies, expand market share and meet the needs of our customers with innovative solutions and a broader product range,” said Daniel Winter, president, Danfoss Power Solutions.

Stefano Bordegnoni, CEO, Hydro Holding, said joining Danfoss Power Solutions marks an important milestone for the company and its entire team. “Our fittings portfolio perfectly complements Danfoss’ hoses offering,” he added, “creating strong commercial and manufacturing synergies that will enable us to deliver even greater value to our customers.”

The acquisition is subject to necessary approvals by relevant agencies, such as competition authorities. It is expected to be fully completed by the end of the year.