PMC Hydraulics Group has entered an agreement to acquire the majority of the shares in Hydroquip Hydraulics
The activities within Hydroquip Hydraulics will continue as a stand-alone operation under the name Hydroquip Hydraulics, being a part of PMC Hydraulics Group
PMC Hydraulics Group, being one of the leading Nordic providers of hydraulic systems and components for OEM customers across Europe and Asia, has entered an agreement to acquire the majority of the shares in Hydroquip Hydraulics in Bangalore, India. The activities continue as a stand-alone business under the name Hydroquip Hydraulics which will be a part of PMC Hydraulics Group.
Hydroquip Hydraulics started in 1996 in Bangalore and is one of the leading distributors in India of hydraulic components for primarily Kawasaki and SUN products.
Hydroquip has an extensive experience and expertise in hydraulics and, in addition to the distribution services, there are also capabilities within design and manufacturing of customized manifolds as well as design and manufacturing of computerized test stands.
“In 2011 PMC acquired Winstar Hydraulics in Bangalore from the same owners as Hydroquip. The acquisition of Winstar has developed to a successful and important footprint for PMC together with the previous owners, who has remained in continuous operative positions. We have during the years had the opportunity to closely follow the successful progress and development of Hydroquip. We are pleased to get the opportunity to acquire Hydroquip with our objective to continue to strengthen the PMC footprint in India together with the former majority owners, who will remain in operative positions to secure a continuous sustainable development”, says Mikael Lundgren, CEO of PMC Hydraulics Group.
“This latest agreement is a natural outcome, based on the successful association which started 10 years ago. PMC’s involvement in Hydroquip will bring managerial and financial stability to the organization. The vast knowledge and experience of PMC globally will add value to our customers and employees”, says A. K. Kamam, MD of Hydroquip Hydraulics.
A K Kamam Mikael Lundgren
Managing Director CEO
Hydroquip Hydraulics PMC Hydraulics Group
For further information please contact:
Mikael Lundgren, CEO, PMC Hydraulics Group
Telephone: +46 (0)709 99 87 38
A.K. Kamam, MD, Hydroquip Hydraulics
Telephone: +91 98 450 165 10
Hydroquip Hydraulics has a revenue of approx. 200 MINR with around 20 employees. Hydroquip is the authorized hub distributor and service centre for Kawasaki Precision Machinery and the distributor for SUN Hydraulics in South India. Read more on www.hydroquiphydraulics.com
PMC Hydraulics Group has a revenue of approx. 1 billion SEK with around 370 employees in companies in Denmark, Sweden, Finland, Estonia, Latvia, Poland, India and China. PMC is a part of Dacke Industri, which is 100% owned by the Swedish Nordstjernan. Read more on www.pmchydraulics.com