Danfoss Power Solutions announced Thursday that it has finalized its acquisition of Italian hose fittings supplier Hydro Holding.
The Danish engineered components manufacturer originally announced the proposed purchase in early November. Financial terms were not disclosed.
Hydro Holding operates four locations in Italy, another in the Czech Republic and a U.K. sales office. It employs a staff of 350.
“This talented team will help us accelerate growth and strengthen our global leadership in fluid conveyance,” Daniel Winter, the company’s president, said in a statement. “Together, we will deliver unmatched hose and fittings solutions to the European market."
Danfoss formed a new business unit, known as Hydro, to house the company within its fluid conveyance division. Hydro Holding’s former chief executive, Stefano Bordegnoni, was named vice president of the new segment.
