Bonfiglioli Finalizes Acquisition of O&K Antriebstechnik GmbH
December 11, 2018—
O&K Antriebstechnik is a company based in Hattingen, in the Ruhr region, with over 130 years of experience in the design, development and production of planetary drives
On November 20 2018, Bonfiglioli and Carraro completed the process that began with the agreement signed by both companies in November 2015, by acquiring O&K Antriebstechnik GmbH remaining stocks - and thus making Bonfiglioli its sole owner - for a total of 17 million euro.
The strategic rationale and cooperation mechanisms behind the agreement signed in 2015 by Bonfiglioli and Carraro, in the past three year period, have boosted sales within the entire O&KA business sector, going from 36 million euro of consolidated revenue in 2015 to approximately 65 million euro in 2018.
“We are very happy about our partnership with Carraro in these past years, and this has led to finalize our acquisition of O&K Antriebstechnik GmbH before time," said Sonia Bonfiglioli, president of Bonfiglioli. "The strategic intent of leveraging the excellent market complementarity between Bonfiglioli and O&KA, as well as the consistent positioning of the two brands - i.e. the reasons behind Bonfiglioli’s interest in the German companies - had a very positive market response, and produced very important operative synergies. Our intention is to continue along this path, by maximizing the expansion on the market of heavy, construction, mining machinery, as well as marine, port and airport equipment, thus extending Bonfiglioli’s global leadership also in the high-power transmission and control.”
“In such a dynamic market - with our company globally engaged in the main reference fields - we took the opportunity of accelerating the sale of O&K Antriebstechnik remaining stocks to further focus on our core business," said Enrico Carraro, president of the Group. "The validity of the process that began three years ago with a trust-worthy partner such as Bonfiglioli, is confirmed also by the excellent results of the German company, which found its natural business placement.”