-- Two complementary players unite to offer comprehensive product portfolio
     for mobile and industrial applications
  -- Joint portfolio broadens global offering
  -- Customers benefit from additional sales channels
  -- Combined business to leverage complementary strengths

HydraForce, Inc. plans to join Bosch Rexroth's growing portfolio of Compact 
Hydraulics products, expanding reach and support for customers. Bosch Rexroth, 
a subsidiary of Bosch, based in Lohr am Main, Germany, is a growing leader in 
Mobile and Industrial hydraulics products.  Bosch Rexroth and HydraForce signed 
a respective contract on July 15, 2022. Both sides agreed to keep the purchase 
price confidential. The transaction is subject to anti-trust approval.

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"With Bosch Rexroth, we found a great partner who values and shares similar 
views on innovation, customer focus, application expertise, and culture. I 
believe the new ownership will create great opportunities for our customers, 
partners and employees and lead to sustained growth," says Mike Terzich, 
President and CEO of HydraForce.

"With its diversified portfolio and international setup, Bosch Rexroth has a 
strong foundation. The acquisition of HydraForce expands our global market 
access through indirect sales channels: Sales partners and system integrators 
will become important target groups. In these challenging times, we are also 
helping to stabilize regional supply chains so that we can support our 
customers even better," says Frank Hess, Vice President Compact Hydraulics 
Business Unit of Bosch Rexroth.

Combination creates a broader and deeper product portfolio
HydraForce's extensive portfolio of products perfectly complement the existing 
product portfolio of Bosch Rexroth's Compact Hydraulic Business Unit. Within 
Bosch Rexroth, the business unit designs, manufactures and markets compact 
hydraulic components for applications such as earth moving, cranes, aerial 
platforms, agricultural machinery, and industrial applications at its four 
locations in China, the US, Germany and Italy. The business unit employs 
approximately 1,800 associates. HydraForce employs approximately 2,100 
associates, most of which are located at six production locations in the US, 
Brazil, United Kingdom and China.

The acquisition enhances regional customer support and additional sales channels
In addition to the complementary product portfolios, the regional sales 
structures of HydraForce and Bosch Rexroth complement each other perfectly as 
well: The combined activities will thus create a well-balanced entity in 
North/South America, Europe, and will also support further growth activities in 
Asia Pacific. Furthermore, the addition of HydraForce will significantly 
improve Bosch Rexroth's global market access through indirect sales channels 
(e.g. dealers and system integrators) which aligns with the long-term strategic 
target of Bosch Rexroth.

About HydraForce
HydraForce was first established in Chicago, USA in 1985 and today has 
manufacturing facilities across the world, including North America, Great 
Britain, Brazil and China.  The company designs and manufactures high 
performance hydraulic fluid power cartridge valves, custom manifolds, and 
electro-hydraulic controls. It has created thousands of custom control 
solutions for a variety of off-highway industries, encompassing farming, 
construction, marine, material handling, mining, and forestry.

HydraForce Media Contact: 
David Price davidp@hydraforce.com
(847) 793-2300, Ext. 3511

SOURCE: HydraForce, Inc.