Actuant Corporation (USA) has completed the acquisition of the CiA-member CrossControl (Sweden) producing controllers and other products for mobile machinery. For approximately 40 million US-$ the company took a 100-% stake in the company providing CANopen- and J1939-capable solutions. The earlier majority shareholder, funds advised by Provider Venture, together with the CrossControl founders have been looking for a long-term owner that can support the company’s continued growth.
ACTUANT WITH OPERATIONS IN MORE THAN 30 COUNTRIES is headquartered in Menomonee Falls, Wisconsin. Its businesses are divided into four segments focused on the markets served. CrossControl will operate within the Maxima Technologies, part of Actuant’s Engineered Solutions segment. Maxima Technologies is a global supplier of severe-duty electronic instrumentation including displays and clusters, machine controls and sensors. CrossControl is a supplier of control system solutions for industrial vehicles in such industries as, cargo, construction equipment, forestry, mining and railway. The company operates as a supplier of products and services to leading vehicle OEMs such as John Deere, Atlas Copco, Cargotec and Bombardier Transportation.
The product portfolio includes ruggedized and advanced displays, main controllers and I/O controllers.
The largest share of revenue comes from solutions for Human Machine Interaction, based on the company’s CC pilot display computing product platform. “As a part of Actuant we have the backing and financial strength to develop CrossControl into a truly global provider of advanced vehicle control solutions” comments Peter Lageson, CEO of CrossControl, and continues “We will now be able to accelerate our growth in Europe and US and we will also get more momentum in our business in China and other emerging markets.”
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