Kinshofer GmbH from Germany and the Italy based company Hammer S.r.l. announced today that they have signed a definite agreement to merge. Under the terms of the agreement Kinshofer has acquired a majority shareholding of Hammer.
For over 48 years, Kinshofer has been a leading manufacturer of attachments for truck mounted cranes, excavators and skid steer loaders, consistently developing its product range in both the crane and excavator markets to become a competent and reliable partner for OEM’s and OED’s. Previous acquisitions of Liftall Inc. (Canada), Demarec B.V. (Holland), RF System AB (Sweden), Auger Torque Group (U.K./ U.S.A./ Australia/ China), Solesbee´s LLC (U.S.A.) and the Doherty Group (New Zealand/ Australia) were other important milestones of this development.
The acquisition of Hammer is significant for Kinshofer in two ways; first it adds additional product segments, such as a full range of hydraulic breakers and other demolition tools to Kinshofer’s already very comprehensive offering. And secondly, it improves Kinshofer’s distribution channel in markets Hammer is very strong. But not only that, Kinshofer has now enhanced local manufacturing in Italy, with its Molfetta based fully vertically and very advanced manufacturing facilities, customers will be served much quicker and with a much larger product range. With this move, Kinshofer further demonstrates its commitment to being a global leader in attachments to the crane and excavator industry.
Hammer, a 2004 established family business, puts its focus on the development and marketing of hydraulic breakers up to 15t self-weight and other demolition tools that make carriers such as excavators more effective and versatile, particularly important for small and mid-size contracting businesses seeking high utilization of their machinery. Hammer’s industry knowledge is based on Mr. Giovanni Modugno’s 49 years of experience combined with his son’s passion and business acumen. With an extremely committed and well educated workforce, Hammer will continue to develop and sell its products globally. In order to meet the current market requirements, Hammer and Kinshofer will recruit more staff to ensure a swift and professional market launch of the companies’ products within either sales organization.
Thomas Friedrich, President & CEO of Kinshofer Group, said: “Kinshofer continues its strategy to provide the industry with a “One-Stop-Shop” solution of outstandingly engineered products to increase efficiency and, more importantly, profitability of its customers. The acquisition of Hammer was the next step in our approach to be a global industry leader with solid local presence”.
Valerio Modugno, Co-Owner and Managing Director of Hammer, commented: “The concentration of knowledge and competence will form a powerful centre for future developments customers can only benefit from. In particular the combination of both product ranges will create more ground breaking innovations for the industry. The whole Hammer management team, which will stay on in its entirety, is very excited to be part of this mutual future.”
Kinshofer’s and Hammer´s employees are working on the rapid integration to provide customers worldwide with their comprehensive range of products and services. Kinshofer is very pleased that the Modugno family will be part of this journey.