Kinshofer acquires HGT

Kinshofer GmbH and HGT Hydraulikgreifer-Technologie GmbH, both based in Germany, have signed a definite agreement to merge. Under the terms of the agreement, Kinshofer will acquire a majority share of HGT.

For more than 50 years, Kinshofer has manufactured tools for truck-mounted cranes, excavators and skid steer loaders. Previous acquisitions of Liftall Inc. in Canada, Demarec B.V. in Holland, RF System AB in Sweden, Auger Torque Group in the United Kingdom, Solesbee´s LLC in the U.S., the Doherty Group in New Zealand and more were important milestones of this development, the company says.

According to a news release announcing the merger, the acquisition of HGT is significant for Kinshofer in two ways. First, the companies say it strengthens Kinshofer’s portfolio of material handling attachments and tools and, second, it improves Kinshofer’s distribution channels in “markets where HGT is strong.”

HGT, a family business established in 1983, has a focus on the development and marketing of material handling attachments, particularly for scrap processing and the handling of bulk materials for excavators and material handlers.  

HGT credits its success to co-owner Helge Schwark and his team’s 40 years of knowledge. With a committed and well-educated workforce, HGT says it will continue to develop and sell its products globally through its distribution channels, with other Kinshofer Group companies adding HGT products to their range.

Thomas Friedrich, president and CEO of Kinshofer Group, says, “Kinshofer continues its strategy to provide the industry with a one-stop-shop solution of outstandingly engineered products to increase efficiency and, more importantly, profitability for its customers. The acquisition of HGT was the next step in our approach to be a global industry leader with [a] solid local presence.”

Schwark will remain co-owner and CEO of HGT.

“The concentration of knowledge and competence, particularly in the material handling sector, will form a powerful center for future developments customers can only benefit from,” he says. “The combination of both product ranges will create more ground-breaking innovations for the industry. The whole HGT team, which will stay on in its entirety, is very excited to be part of this mutual future.”