Borgman Capital has acquired Harlo Products for an undisclosed amount, marking a significant corporate transaction in the industrial equipment sector. This acquisition signifies Borgman Capital's expansion into specialized manufacturing.
Harlo Products, a third and fourth-generation family-owned business, has maintained its reputation for quality and dependability over 76 years. Since the early 1940s, Harlo has been a leader in the vertical mast rough terrain forklift industry, originating in Grand Rapids, Michigan, by manufacturing mast assemblies for the US Navy during WWII. The company later partnered with John Deere in the 1980s to produce its first fully in-house unit. Harlo continues to build robust rough terrain forklifts, such as its HP Series, known for low-end torque, increased lift capacity, and heavy-gauge all-steel construction, providing a high return on investment for owners in tough conditions.
The strategic acquisition by Borgman Capital is expected to leverage Harlo Products’ established market position and specialized engineering expertise. Harlo’s deep understanding of rough terrain applications and its commitment to durable, reliable machinery provides Borgman Capital with a trusted brand, a loyal customer base, and proven product lines within a vital industrial niche. This move allows Borgman Capital to integrate a company synonymous with quality into its portfolio.
Expected synergies include potential for enhanced operational efficiencies and expanded market reach for Harlo Products under Borgman Capital’s ownership, while preserving the foundational values and product integrity that define the Harlo brand. The combined entity is poised to continue serving the critical demands of the rough terrain forklift market, building on Harlo’s legacy of innovation and dependability to meet future industry needs.