Bridgestone Hose to buy HosePower
Bridgestone Hose America Inc. plans to acquire HosePower, a Florida-based hose distributor.
HosePower and Bridgestone have worked together since HosePower was founded in 1990.
Headquartered in Orange Park, Fla., HosePower is an independent value-added distributor with locations throughout the U.S. and in Mexico.
Bridgestone began producing hoses in 1937. Today, the company deals primarily in the hydraulic hoses used in construction machinery and factories, which it manufactures and assembles at eight locations worldwide. In addition to supplying machinery manufacturers, it is expanding sales of replacement hoses to end-users while developing a mining solutions business. The acquisition of HosePower will enable Bridgestone to create additional value in hose operations by providing a timely supply of high-quality hoses to a wider range of customers while also offering support through specialized services, the company said.
Bridgestone HosePower will employ the same management, sales and branch staff. The long-term goal of Bridgestone is to build a national hose sales and service network with 150 locations and more than 400 mobile service units, the company said in a press release.
“We are excited to have Bridgestone as our partner. Their global reach, engineering excellence and their experience in integrating add-on acquisitions will be an important asset for us as we continue to grow the business,” said J. Palmer Clarkson, HosePower CEO.
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