Praesidiad announced the acquisition (subject to regulatory approval) of Drehtainer GmbH in Germany to be driven and operated under the Group’s Hesco business. The transaction is expected to close in Spring 2019.
“We are pleased that DREHTAINER has found a partner in Hesco that shares our culture and values and with whom we can work together to continue the growth of the business,” said Reinhard Glombek and Jens Harder, Managing Partners for DREHTAINER.
“Under Praesidiad’s leadership Hesco has accelerated expansion into complimentary new key markets,” said Michael Hughes, CEO at Hesco. “Not only does this acquisition further expand our portfolio but it also enables the crucial collaboration between Hesco and DREHTAINER’s respective engineering capabilities. Together we will share sector knowledge and innovate new ground-breaking technologies for military and security protection.”