Aims at Strengthening Position in Global Tracked Vehicle Market
RENK announced on 16 April that it has completed acquisition of Horstman Holdings Limited, the leading solutions provider in the global armour and tracked vehicle mobility markets.
Well known for its hydraulic and hydropneumatic suspension systems and complementary high integrity engineering, Horstman will provide RENK with an expanded portfolio in its vehicle transmission unit and further develop the company’s expertise in powertrains for tracked vehicles, thereby strengthening its global presence.
“By acquiring Horstman, RENK is continuing to implement its internationalisation strategy and to expand its systems expertise. Horstman, like RENK, is also a well-established and innovative technology leader in its field,” explained RENK CEO Florian Hofbauer.
Horstman operates through the three business areas: Mobility; Project Build Services; and Environmental & Power. It currently has 157 employees across locations in the UK, the USA and Canada. “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,” commented Horstman CEO Ian Pain.