Oshkosh Corporation has signed an agreement to acquire Hinowa S.p.A, an Italian-based manufacturer of track-based aerial work platforms, mini dumpers, lift trucks and undercarriages.
Hinowa will join JLG in the corporation’s access equipment segment. Hinowa has produced JLG compact crawler boom lifts since 2010, including electric, hybrid and diesel models. The company is also known for its advanced track designs and electrification expertise as an early adopter of lithium-ion battery technology.
According to the news release, the acquisition will help Oshkosh better serve its customers and expand its operational footprint in Europe.
“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.”
“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.”
Hinowa was founded in 1987 in Nogara, Italy, and today has a 250,000-square-foot manufacturing facility and 50,000-square-foot parts facility with nearly 230 employees.
The transaction is expected to close within 90 days.