Kinshofer acquires European attachments maker

Germany-based Kinshofer GmbH has agreed to acquire a majority stake in Eurosteel B.V., a fellow construction, demolition and recycling attachments maker based in the Netherlands.

Eurosteel is a family business established in 1985 that Kinshofer says puts its focus on the development and marketing of earthmoving and material handling attachments to make carriers more productive and long-lasting.

"[Eurosteel’s success] is based on Mr. Ed Zeelen’s and his team’s nearly 40 years of knowledge," Kinshofer says. "With an extremely committed and well educated workforce, Eurosteel will continue to develop and sell its products mainly in Europe through its distribution channels, but also other Kinshofer Group companies will add Eurosteel products to their range.”

Kinshofer is itself a more-than-50-year-old company and has been active in the acquisition market for several years.

The company's current product range includes tools for truck-mounted cranes, excavators and skid steer loaders, with its attachments available both through dealers and along with hydraulic material handler and loader original equipment.

Kinshofer’s previous acquisitions include:

• Liftall Inc. (Canada);
• Demarec B.V. (Netherlands);
• RF System AB (Sweden);
• Auger Torque Group (United Kingdom, Australia and China);
• Solesbee’s LLC (United States);
• the Doherty Group (New Zealand and Australia);
• Hammer Srl. (Italy);
• Cangini Benne Srl. (Italy);
• Trevi Benne SpA (Italy);
• Prolec Ltd. (U.K.); and 
• HGT Greifer-Technologie GmbH (Germany).

The company says its acquisition of Eurosteel is significant because it strengthens its portfolio of quick couplers and buckets for excavators and wheel loaders. As well, the acquisition improves Kinshofer’s distribution channels in markets in which Eurosteel has a strong presence.

“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,” Kinshofer Group President and CEO Thomas Friedrich says. “The acquisition of Eurosteel was the next step in our approach to be a global industry leader with a solid local presence."

Ed Zeelen will remain co-owner of Eurosteel.

“The concentration of knowledge and competence, particularly in the earthmoving and material handling sectors, will form a powerful center for future developments customers can only benefit from," he says.

“The combination of both product ranges will create more groundbreaking innovations for the industry. The whole Eurosteel team, which will stay on in its entirety, is very excited to be part of this mutual future.”

Kinshofer says employees from both companies are working on the rapid integration to provide customers worldwide with their comprehensive range of products and services.