RENK Group acquires General Kinetics, the North American Leader in Suspension Systems for Combat Mobility from CIEL Capital
Ontario, Canada –
Headquartered in Augsburg, Germany, the RENK Group is a leading global player for high-end gear units, power packs, hybrid propulsion systems, suspension systems, plain bearings, couplings and test systems. The company caters to a multiplicity of end markets, focusing especially on security and defense, energy and infrastructure. With more than 3000 employees, the RENK Group has revenue on the high side of EUR 850 million.
For further information, please visit: www.renk-group.com
A company of the RENK Group, Horstman has been headquartered since 1913 in Bath, UK with operations also in the US and Canada. Horstman combines world leading simulation, design and manufacturing capabilities and delivers mobility solutions for the global wheeled and armored markets’ hardest challenges. With the addition of the experienced employees and five decades of lean manufacturing expertise of General Kinetics, Horstman employs 250 people and approaches EUR 90 million revenue.
For further information, please visit: www.horstmangroup.com
General Kinetics Engineering Corporation was founded in Canada in 1982, to deliver properly engineered suspension components to our military customers and has never strayed from that vision. With facilities in Canada and the US, General Kinetics is the pre-eminent designer and manufacturer of suspension dampers for a vast majority of the allied fleets, both wheeled and tracked, as well as the manufacturer of ActiveShock™ semi-active damping systems, used in the most demanding EA seating applications.
For further information, please visit: www.generalkinetics.com
CIEL Capital is a private equity investment firm based in Toronto, Canada. CIEL focuses on majority investments in founder-owned businesses, recapitalizations, succession, management buyouts, and corporate divestitures. As a family office comprised of committed capital, CIEL looks for companies with a historical track record of positive cash flow, earning stability, and a strong balance sheet. Unlike most private equity firms who have set investment timelines, our time horizon is indefinite and target transaction structures are flexible.
For further information, please visit: https://ciel.capital/