Hydraulik Nord's acquisition of KMF shares
Parchim/Kempten, 25th of September, 2015. Hydraulik Nord GmbH and Nußbaum Group signed an agreement under which Hydraulik Nord has acquired all shares of the Otto Nußbaum Group's subsidiary KMF Kemptener Maschinenfabrik GmbH as of 1 September 2015.
With this divestiture Nußbaum Group shifts its strategy to manufacturing equipment for the automotive service markets, making this its core business, while continuing its engineering partnership with KMF.
By taking over KMF, Hydraulik Nord Group consistently upgrades its product portfolio "mobile hydraulics" and will from now on also offer hydraulic cylinders in addition to hydraulic steering units and priority valves.
The acquisition is part of the corporate strategy to strengthen its position in the field of mobile hydraulics, according to Hydraulik Nord CEO Dr. Karl J. Werner. "By expanding our range of products, Hydraulik Nord has taken another important step towards becoming a system supplier to renowned customers in the areas of agricultural and construction machinery as well as commercial vehicles."
Hydraulik Nord will continue to rely on KMF's 170 highly qualified and experienced employees and will invest systematically in the company's development at the site in Kempten, emphasizes Hydraulik Nord CFO Dr. Robert Moll.
According to KMF CEO Peter Grössl, who is looking forward to collaborating closely with the new shareholder, the change in the shareholder structure strengthens KMF's market position. "Without having to neglect our existing market strengths, we can continue to grow with a strong partner at our side and the access to new distribution channels, while simultaneously expanding our product range."
About Nußbaum Group: With about 1,000 employees Nußbaum Group is one of the worldwide leading manufacturers of lifting platforms, testing technologies as well as tire and air-conditioning services for automotive and heavy-duty vehicles.
About Hydraulik Nord Group: Hydraulik Nord is a group of medium-sized companies which operate in the business segments of industrial services, mechanical engineering and electronics. The group currently employs approximately 1,900 people.