Press Release – RENK AG Purchases Suspension Specialists Horstman Holdings Limited
17 Apr 2019
Press Release – No. 5/2019
On April 16th, 2019, globally active RENK AG has successfully completed the acquisition of Horstman Holdings Limited (“Horstman”) and its group of companies. Horstman is a leading solution provider in the global armour and tracked vehicle mobility markets, well known for its hydraulic and hydropneumatic suspension systems and complimentary high integrity engineering.
The aim of the acquisition is to expand the product portfolio of RENK’s vehicle transmissions unit, to further develop RENK’s expertise in powertrains for tracked vehicles and to strengthen their global presence.
RENK CEO Florian Hofbauer: “By acquiring Horstman, RENK is continuing to implement its internationalization strategy and to expand its systems expertise. Horstman, like RENK, is also a well-established and innovative technology leader in its field.”
Horstman operates through the three business areas Mobility, Project Build Services and Environmental & Power. It currently has 157 employees across its locations in the UK, the USA and Canada.
Horstman CEO Ian Pain: “Our customers and employees will benefit as RENK allows us to continue operating as an independent company and to build on our existing success, while also opening the opportunity to create new mobility solutions together.”
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