The Stabilus Group, supplier of motion control solutions for a wide range of industries – has completed its acquisition of Destaco, an industrial automation specialist headquartered in Auburn Hills, Michigan, United States. The company was acquired from Dover Corporation, a globally diversified industrial concern that’s also headquartered in the United States.
After an intensive review of strategic fit, both companies signed the purchase agreement on October 11, 2023. Since then, all regulatory approvals have been obtained, and Stabilus SE has acquired 100% of Destaco effective April 2 2024.
Complementary products, integrated solutions
The two partners’ portfolios are complementary. Most importantly, they can be combined to create comprehensive solutions for industrial companies. Whereas products from the Stabilus Group allow for controlled motion sequences and precise vibration isolation, Destaco’s strengths are manual clamps, power clamps and end-of-arm tools for robots, and grippers and indexers for automation. “With our combined solutions, manufacturers can enhance their productivity and build production lines with less integration effort. This is how we tend to capture a larger share of the industrial automation market, which is growing faster than ever before due to the re-shoring of production from emerging markets to the established industrialized nations,” said Dr. Michael Büchsner, CEO of Stabilus SE.
In addition to the good technological fit, there are other synergies between the two partners. Destaco CEO Stefan Eggers affirmed: “The longstanding direct customer relationships and established distribution networks also ideally complement each other. Together, we can scale up our business faster than would have been possible if each were acting alone. In particular, we expect that Destaco will help us boost our European business. Both management and workforce are convinced that this is a win-win situation.”
Strategic building-block for transformation and growth
Destaco generated approximately USD 213 million (approximately EUR 200 million) of revenue in 2022. Founded in 1915, the company develops and manufactures automation, workholding, and remote handling components and solutions in 13 locations across the world.
