STOCKHOLM, Sweden — Haldex is acquiring Concentric, a supplier of oil, water and fuel pumps for medium and heavy duty diesel engines. Through the acquisition, Concentric will be included in Haldex’s Hydraulic Systems division.
The company said Concentric’s strength in oil, water and fuel pumps complements Haldex’s existing product range in its hydraulic system division and enhances its offering to the diesel engine market. The acquisition is the first step in a strategic plan to optimize the Haldex Group structure and creates a strong Hydraulic Systems division within Haldex. With Concentric, Haldex Hydraulic Systems’ global reach in the diesel engine market, as well as production, sourcing and R&D, will be significantly strengthened, according to the company.
“Concentric represents an ideal acquisition target for Hydraulic Systems and will add to Haldex’s focus on leading-edge technology and growth in structurally interesting niches. The acquisition is a first step in the strategic plan to optimize the Group structure and creates a strong Hydraulic Systems division,” said Joakim Olsson, president and CEO of Haldex.
Concentric will form part of Haldex’s Hydraulic Systems Division. Ian Dugan, CEO of Concentric, will take up the role as head of Hydraulics, and Concentric’s top management will continue to work within Hydraulics and bring valuable experience and management skills. Brian Nelson, current acting head of this division, will continue in a leading role within the division.
The acquisition is subject to regulatory approval in Germany and is expected to close before the end of April.
For more information, visit: www.haldex.com.
