Torque-Expo

Global investment firm KKR, via HK Holdings Co, is to acquire Hitachi Power Tools division, Hitachi Koki.

The announcement confirmed rumours reported earlier this month and will see KKR purchase the firm with a view to support Hitachi Power Tools’ growth strategy.

The Company is actively pursuing expansion in global markets, and acquired German power tool company metabo Aktiengesellschaft in March 2016. It has also formed a strategic alliance with major North American hardware chain Lowe’s Companies in 2015. The announcement added that Hitachi Power Tools is competing to introduce cordless technology to a wider range of power tool products and applications.

‘Well positioned for organic and inorganic growth’

“Hitachi Koki is a world-class manufacturer of power tools and a developer of innovative tool technologies,” said Mr. Hiro Hirano, Member of KKR and CEO of KKR Japan. “The Company is well-positioned for further organic and inorganic growth given the high quality of its products, its high-caliber team and the attractive environment for power tools through cordless and digital trends. Looking ahead, we are fully committed to leveraging our global network and resources to provide full support to Hitachi Koki in pursuing its growth strategy.”

The announcement added: “KKR intends to work closely with Hitachi Koki’s management and employees, leveraging Hitachi Koki’s excellent technology development capabilities and KKR’s global resources and the experience of its worldwide team to identify opportunities to strengthen the Company’s business platform.

“These opportunities may include implementing operational improvement initiatives and identifying and executing acquisitions globally with the aim of growing Hitachi Koki’s corporate value.”

There’s more on the KKR site.