RENK Group has acquired L3Harris Technologies of Muskegon, MI, for approx. $400 million (€336 million) in cash, thereby creating RENK America, the Augsburg-based company announced on 6 July.
Acquiring one of the leading entities in combat mobility solutions, the company will become RENK’s US centre of excellence. “Becoming part of the RENK Group enables us to reinforce our mission of supporting the US Army and our allies,” RENK America CEO Ted Trzesniowski stated. “The new organization – strengthened by RENK Group’s advanced technology and resources – will further enhance our combat mobility systems to offer the best value to customers and ideally position us for future platforms.”
RENK America, whose products currently power long-time defence workhorses such as the BRADLEY IFV and the M88 recovery vehicle, will add to the Group’s global capacity for R&D, manufacturing and service. “We intend to lead the modernization of American armored vehicle mobility systems with the efficiencies and opportunities created by this merger of industry leaders,” explained RENK Group CEO, Susanne Wiegand. “RENK America will advance our ability to empower our forces by offering reliable and safe combat mobility innovations.”
RENK America will convert the 1.2 million sqft facility in Muskegon into its headquarters. It expects to retain L3Harris’ nearly 400-strong corps of talent, many of whom are military veterans themselves, whose lives once depended upon the products they now build. As part of the transaction, RENK Group also acquired L3Magnet-Motor GmbH in Starnberg, Germany, a global leader in hybrid drive solutions for protected vehicles and Navy vessels.