Horstman Group has been acquired by RENK Ag

Horstman Group has been acquired by RENK Ag2019-06-04T22:35:44+00:00

Project Description

Horstman Holdings Limited and its group of companies (“Horstman”) have been acquired by RENK AG (Munich:RENK).  Headquartered in Bath, UK, and with other facilities in the USA and Canada, Horstman is a leading solutions provider in the global armor and tracked vehicle mobility markets.  As the world’s largest independent supplier of military vehicle suspension systems, Horstman is on the leading edge of both passive and active vehicle suspension technology and is well known for its hydraulic and hydropneumatic suspension systems and complimentary high integrity engineering.  It produces a complete line of linear and rotary suspensions for military wheeled and tracked ground vehicles and manufactures select high-value vehicle drivetrain and other specialized military components.  The Company is also a leader in environmental control units for fixed and mobile military electronics.  Horstman operates through the three business areas which are Mobility, Project Build Services and Environmental & Power. It has 157 employees across its three facilities.

RENK is a global leader in transmission systems, gear units and bearings for heavy duty applications across a variety or markets and applications such as medium and heavy duty tracked vehicles, commercial marine and naval ships, wind turbines, off highway vehicles, commercial trucks and heavy industry.

Horstman will continue to operate as an independent division of RENK.  The acquisition expands the product portfolio of RENK’s vehicle transmissions unit, further develops RENK’s expertise in powertrains for tracked vehicles and strengthens its global presence.

Horstman CEO Ian Pain commented, “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.”  RENK CEO Florian Hofbauer also said, “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.”

Philpott Ball & Werner, LLC served as investment banker to Horstman.  Terms of the transaction were not disclosed.  For more information about this transaction, please contact PB&W Managing Director Nick Berry at nberry@pbandw.com or Vice President Bret Kuchenbecker at bretk@pbandw.com.