Danfoss has agreed to acquire an Italian maker of hoses, fittings and couplings as part of a broader effort to expand its fluid conveyance business, the company announced.
The Danish industrial company said that adding Alfagomma to its Danfoss Power Solutions segment would create “a global leader in hydraulic and industrial hose manufacturing and distribution.” Alfagomma operates 28 production and assembly locations worldwide with a staff of some 4,500; its annual sales are nearly $690 million, officials said.
Terms of the transaction were not disclosed.
Danfoss noted that it has bolstered its fluid conveyance segment over the past five years by acquiring Eaton’s hydraulics business and fellow Italian company Hydro Holding. The company said it considers Italy a “core country for future development” and has committed to investing in the Alfagomma business, as well as maintaining its domestic footprint.
