Oshkosh Corp. acquires Italian access equipment manufacturer with EV expertise
OSHKOSH - Specialty vehicle manufacturer Oshkosh Corp. will acquire an Italian access equipment manufacturer that has produced boom lifts for Oshkosh subsidiary JLG for more than a decade.
Nogara, Italy-based Hinowa S.p.A. will become part of Oshkosh's access equipment segment, led by JLG, once the purchase is closed. Oshkosh didn't disclose terms of its deal for privately held Hinowa.
Founded in 1987, Hinowa manufactures track-based aerial work platforms, mini dumpers, lift trucks and other specialized access equipment that enables construction workers to move material and work in the air. It offers electric and/or hybrid versions of several of its main products and product lines. The two companies are familiar with each other: Since 2010, Hinowa has produced compact crawler boom lifts for JLG.
Hinowa's expertise in lithium ion battery technology interested Oshkosh Corp. at a time when it expects to invest $300 million in electrification across its defense, fire and emergency, access equipment and commercial vehicle segments.
"This acquisition will accelerate our electrification capabilities and provide growth opportunities across core and adjacent markets," said John Pfeifer, Oshkosh Corp. president and chief executive officer, in a media release.
The purchase will also expand Oshkosh Corp.'s operations in Europe, increasing the capabilities it can provide customers. Hinowa employs about 230 people at its 250,000-square-foot factory and 50,000-square-foot parts facility.
“We are pleased to join Oshkosh Corporation,” said Dante Fracca, founder and owner of Hinowa, in a media release. “Our successful 12-year relationship with JLG, along with shared core values around culture, safety, productivity and sustainability position us well for the future.”
Oshkosh expects to complete the purchase in early 2023, subject to normal closing procedures.
Contact Jeff Bollier at (920) 431-8387 or jbollier@gannett.com. Follow him on Twitter at @JeffBollier.
This article originally appeared on Green Bay Press-Gazette: Oshkosh Corp. to buy Italian maker of access equipment with EV experience
