Military vehicle manufacturer Oshkosh Corporation has signed an agreement to acquire Italian machinery company Hinowa.
The buyout is expected to diversify the Wisconsin-based company’s product portfolio and support its accelerated growth strategy.
Hinowa is a privately-held international firm offering track-based aerial work capabilities, lift trucks, undercarriages, and mini dumpers.
The company is also a leading developer of advanced track designs and electrification systems, among the early adopters of lithium-ion battery technology.
“We look forward to welcoming the Hinowa team into the Oshkosh family,” Oshkosh Corporation CEO and President John Pfeifer said.
“This acquisition will accelerate our electrification capabilities and provide growth opportunities across core and adjacent markets.”
Hinowa produces JLG compact crawler boom lifts in electric, diesel, and hybrid-powered models.
Through the business it offers, Hinowa will become part of Oshkosh’s equipment segment.
“Combining our capabilities will enable us to better serve customers and expand our operational footprint in Europe,” said Frank Nerenhausen, Executive Vice President at Oshkosh Corporation and President of JLG Industries.
“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 Owner and Founder Dante Fracca added.