Oshkosh Corp. to acquire Hinowa for $192M
15 November 2022
Oshkosh Corp. has entered a definitive agreement to acquire Hinowa S.p.A. for approximately $192 million, the company announced. Hinowa, based in Italy, is a manufacturer of track-based access equipment, mini dumpers and lift trucks. The deal is expected to close in 90 days.
“We look forward to welcoming the Hinowa team into the Oshkosh family,” said John Pfeifer, Oshkosh Corporation’s president and CEO. “This acquisition will accelerate our electrification capabilities and provide growth opportunities across core and adjacent markets.”
At the recent Bauma exhibition, JLG showed new crawler-based boom lifts which were produced for the company by Hinowa and shown on Hinowa’s stand.
“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.”
“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.