Danfoss Powered Solutions has acquired Italian hose fitting manufacturer Hydro Holding.
Hydro Holding – set to become part of Danfoss’ Fluid Conveyance Division - offers carbon and stainless steel fittings and adapters, hose assemblies and formed steel tubing. The company has four locations in Italy, one in the Czech Republic and a sales office in the UK. Hydro Holding was formed with the acquisition of two Italian hose fittings producers, Tieffe and FB Hydraulic in 2015, followed by Raccorfer, a cold forming steel producer, and MCS Hydraulics, a manufacturer of stainless steel fittings in 2017. It employs 350 with annual revenues of €60 million.
One of Hydro Holdings' locations in Ariano Irpino, southwest of Foggia
Danfoss president Daniel Winter said: “Bringing Hydro Holding into the Danfoss Fluid Conveyance business is a perfect fit for both organisations. 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.”
Hydro Holding chief executive Stefano Bordegnoni added: “Our fittings portfolio perfectly complements Danfoss’ hoses offering, creating strong commercial and manufacturing synergies that will enable us to deliver even greater value to our customers.”
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