Oshkosh Corporation has entered into a definitive agreement to acquire Hinowa S.p.A., a privately held 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," says 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 of 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," says Frank Nerenhausen, executive vice president at Oshkosh Corporation and president at 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 has an approximate 250,000 sq. ft. manufacturing facility and 50,000 sq. ft. parts facility with nearly 230 team members. The company offers products for work at height and vegetation management applications.
"We are pleased to join Oshkosh Corporation," says 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.
