STABILUS SE
Koblenz, April 2, 2024 - The StabilusGroup, one of the world's leading providers of motion control solutions for a wide range of industries, has completed the acquisition of industrial automation specialist Destaco. StabilusSE is acquiring Destaco, headquartered in Auburn Hills, Michigan, USA, from Dover Corporation, a globally diversified industrial company also headquartered in the USA.
Following an intensive review and analysis of the strategic fit, both companies signed the purchase agreement on October 11, 2023. Based on the official approvals that have been granted in the meantime, Destaco will be fully acquired by StabilusSE with effect from today.
Complementary products - integrated solutions
The product range of both partners is complementary and can be combined into integrated solutions, especially for industrial customers. While the StabilusGroup's products enable controlled motion sequences and precise vibration isolation, Destaco's strengths lie in manual clamps, power clamps and end-of-arm tools for robotics as well as grippers and indexers for automation. "With our joint solutions, manufacturers can increase their productivity and build production lines based on innovative technologies. In this way, we want to increasingly participate in the megatrend of industrial automation, which is accelerating due to the relocation of value creation from emerging to traditional industrialized countries," emphasizes Dr. Michael Büchsner, CEO of StabilusSE.
In addition to the technological 'fit', further synergies are opening up between the two partners, confirms Stefan Eggers, Managing Director of Destaco: "The long-standing direct customer access and established distribution networks also complement each other ideally. Together we can scale our volume faster than individually. In particular, we see a tailwind for our European business at Destaco. Management and staff are convinced of the win-win situation."
Strategic building block for transformation and growth
Destaco generated sales of around 213 million US dollars (around 200 million euros) in 2022. Founded in 1915, the company develops and produces components and solutions in the fields of automation, clamping technology and remote handling at 13 locations worldwide.<_o3a_p>
In the future, such competencies and products will also enrich the Motion Control Eco System, with which the StabilusGroup aims to become the global market leader in motion control: "With our full range of intelligent motion technologies, we want to increase our annual sales to two billion euros by 2030. As part of our STAR 2030 strategy, we are also pursuing the goal of expanding our industrial business with continuous growth. The collaboration with Destaco also represents an important step in this direction," says Dr. Michael Büchsner.
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About StabilusSE
The StabilusGroup is one of the world's leading providers of motion control solutions for a wide range of industries such as mobility, healthcare, leisure, furniture, energy, construction, industrial machinery and automation. Based on more than eight decades of experience, Stabilusoffers reliable and innovative motion control solutions that enable, improve or automate opening, closing, lifting, lowering and adjusting. The damping and vibration isolation technologies developed by Stabiluscan be individually tailored to the needs of customers and offer protection against shocks, vibrations and noise. The group, with its headquarters in Koblenz, Germany, has a global production network in nine countries with around 7,000 employees worldwide and generated sales of EUR 1.2 billion in fiscal year 2023. In addition, Stabilusis represented by regional offices and sales partners in more than fifty countries in Europe, North and South America as well as in the Asia-Pacific region. StabilusSE is listed on the German Stock Exchange in the Prime Standard and is represented in the MDAX.
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Stabilus SA published this content on 02 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 April 2024 08:46:06 UTC.
