SAF-Holland Monday announced it has acquired a majority stake in the automatic tire pressure management specialist, PressureGuard LLC, based in Nashville, Tenn.
SAF-Holland says the acquisition strengthens the company’s product portfolio for tire pressure systems in North America and adds a key foundational element in advanced digital SMART products for trailer applications.
SAF-Holland has acquired a 51 percent stake in PressureGuard effective Jan. 9, 2019. A purchase option for the remaining outstanding shares in the company was agreed between SAF-Holland and the previous owner, Servitech Industries. SAF-Holland says 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, the company says.
“This acquisition is in line with our strategy of providing complete solutions to our customers and complements our product portfolio of a systems approach,” says Detleft Borghardt, CEO, SAF-Holland. “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.”
SAF-Holland notes the PressureGuard tire management system has proven to be a durable and robust solution to meet the growing market demand for reliable automatic tire inflation. This system includes several unique key features such as stainless-steel braided hoses, specialized die cast aluminum hubcaps with protective fins, a patent pending unique axle vent assembly and patented high-pressure relief capabilities. The company adds the non-pressurized axle design can accommodate all industry standard variations in axle configurations, tire sizes, rim types, axle spindle types, hub lubrication options, pressure settings, power and electrical harness options.
SAF-Holland says it sees great potential in PressureGuard’s proven 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. This approach also simplifies the warranty and after-sale support needed by today’s fleets, the company says.
“Similar to the acquisition of Axscend in 2018, the acquisition of PressureGuard also focuses on expanding our technological capabilities. PressureGuard’s expertise seamlessly integrates with our digital SMART product platform, giving us a compelling solution for tire management systems to offer our customers,” says Matthias Heiden, CFO.