Danfoss has entered into an exclusivity agreement to conclude the acquisition of Alfagomma.
The intention to acquire Alfagomma aligns with Danfoss’ LEAP 2030 strategy, part of which is to accelerate growth within the Fluid Conveyance division, a business within the Danfoss Power Solutions segment. Alfagomma, headquartered in Italy, is a global manufacturer of hoses, fittings, couplings and connectors with approximately €600 million in annual sales, 4,500 employees, and operations across 28 production and assembly sites globally. Combining the businesses of both Alfagomma and the Fluid Conveyance division would create a global leader in hydraulic and industrial hose manufacturing and distribution.
Since 2021, Danfoss has strengthened its Fluid Conveyance business through the acquisition of Eaton’s Hydraulics business and, most recently, Hydro Holding in Italy, while continuing to invest in equipment, technology and infrastructure. Fluid Conveyance is now a core and fast-growing business within Danfoss Power Solutions.
Both companies will operate independently throughout the process, maintaining continuity and business as usual for customers, suppliers and employees. Danfoss intends to complete the transaction and remains committed to investing in the business and maintaining its footprint in Italy. Since 1961, Danfoss has maintained a presence in Italy with a current workforce of more than 1,100 employees across 14 sites.
Danfoss considers Italy a core country for future development, with a long-term commitment to strengthen operations, support the industrial base, and ensure stability, growth and continued investment in the people, capabilities and operations of Alfagomma.
Image: Danfoss Power Solutions
