SAF-Holland announced that it has acquired a majority stake in PressureGuard LLC, an automatic tire pressure management specialist based in Nashville, Tenn.
The deal gives SAF-Hooland a 51% stake in Pressure Guard, effective Jan. 9. A purchase option for the remaining outstanding shares in the company was agreed between SAF-Holland and the previous owner, Servitech Industries, Inc. This option may be exercised at a later date. The purchase price for the acquired stake is in the low single-digit million-dollar range. PressureGuard’s management team will remain with the company in their current roles to support the company’s ongoing production, as well as its integration into the SAF-Holland Group.
SAF-Holland says that sees great potential in PressureGuard’s tire pressure management technology to provide an even more comprehensive axle and suspension solution to its fleet customers in North America. This one-stop sourcing approach provides fleet managers with a single point of contact and ensures a fully engineered system design that addresses any compatibility issues up front, the company said. This approach also simplifies the warranty and after-sale support needed by today’s fleets, the company added.
“This acquisition is in line with our strategy of providing complete solutions to our customers and complements our product portfolio of a systems approach. This pre-assembled product addresses many of the challenges facing fleet managers today and simplifies the ordering, production and customer service processes. PressureGuard has proven itself in the market with a simple, yet robust design,” said SAF-Holland Chief Executive Officer Detlef Borghardt, in explaining the rationale for the acquisition.
