PMC Hydraulics Group, a Nordic provider of hydraulic systems and components for OEMs across Europe and Asia and part of Dacke Industri, entered an agreement in July 2024 to acquire the remaining shares in Hydroquip Hydraulics in Bangalore, India.
Hydroquip Hydraulics started in 1996 in Bangalore, distributing hydraulic components primarily for Kawasaki Precision Machinery and Sun Hydraulics in South India. Hydroquip has extensive experience and expertise in hydraulics, distribution services, and designing and manufacturing customized manifolds and computerized test stands.
“We are excited to announce the complete acquisition of the remaining shares in Hydroquip Hydraulics. This strategic move underscores our steadfast commitment to industry innovation and positions us for enduring growth and success. We will remain in operative positions to secure continuous sustainable development and the objective of continuing to strengthen the PMC footprint in India. Together, we capitalize on new opportunities and deliver an increased value to our stakeholders,” said Mikael Lundgren, VP of Fluid Power Technology at Dacke Industri.
“Many years of collaboration with PMC Hydraulics Group have brought us immense benefits, thanks to their extensive global knowledge and experience, which have significantly enriched the value we deliver to our customers and employees. We are excited about the future and look forward to continuing as a stand-alone operation, owned by PMC Hydraulics Group 100%, anticipating many more opportunities ahead,” said A. K. Kamam, managing director of Hydroquip Hydraulics.
In 2011 PMC acquired Winstar Hydraulics in Bangalore from the same owners as Hydroquip. Then, in 2021, PMC announced an agreement to acquire the majority of the shares in Hydroquip. The activities within Hydroquip continued as a stand-alone operation under the name Hydroquip Hydraulics, being a part of PMC Hydraulics Group. Kamam stated that the agreement was a natural outcome based on the successful association, which started 10 years prior. Now, in 2024, the PMC acquired the final shares of Hydroquip, and the company is now fully part of PMC and Danke Industri.
PMC Hydraulics
pmchydraulics.com
Filed Under: Industry News