Kobelt Manufacturing Co Ltd, a portfolio company of U.S. private equity firm Bow River Capital Partners, has bought Accu-Steer Inc, a U.S. designer and builder of hydraulic power steering units. The financial terms of the deal were not released. Kobelt, a manufacturer of propulsion controls, steering systems, thrusters, stabilizers and braking systems for marine, transportation and other industrial uses, said the acquisition completes its product line. Based in Surrey, British Columbia, Kobelt was acquired by Bow River in February 2013.
Kobelt Acquires Accu-Steer Inc.
Aug 06, 2015
Manufacturer of quality hydraulic steering actuators will join Kobelt to expand marine system offerings.
Kobelt announced today the acquisition of Accu-Steer Inc., a US-based manufacturer of quality Hydraulic Steering Actuators.
Founded by Bill Pulse and Paul Barber in 1993, Accu-Steer designs and builds a range of hydraulic power steering units. For over 22 years, the company has specialized in the design and manufacturing of reliable solutions for guiding and controlling motion on commercial vessels and pleasure craft.
“The synergies between the Kobelt and Accu-Steer product lines make these two companies such a natural fit.” stated Bill Pulse, Accu-Steer President. “Kobelt’s goal is to provide comprehensive systems to their customers and the Accu-Steer product line enables them to achieve this goal and better service the customer. “We are very excited about the future for these combined product lines.”
“We continue on our mission to design and manufacture systems that provide our customers with the safest, most trusted solutions to guiding and controlling movement.” said David Bockhold, CEO of Kobelt. “In our effort to provide complete steering packages to a broad range of the marine market, the Accu-Steer product line effectively fills some gaps in our current Kobelt product line. By packaging the hydraulic power steering unit into a complete steering package, we improve our ability to provide quality, cost effective and complete steering solutions for both the commercial and pleasure markets. In addition to steering packages, we can also integrate our propulsion controls and our Keypower thrusters and stabilization systems to deliver solutions for all aspects of vessel motion control. With both Accu-Steer as well as our recent acquisition of Keypower, we are responding to customer demand for one company to take responsibility for the integration of multiple systems.”
Kobelt will retain the Accu-Steer brand; a well-known, trusted and respected name in the marine industry. Accu-Steer branded products will be distributed and serviced through Kobelt’s Global Partner Network operating in 60 countries worldwide.
Accu-Steer will be physically relocated into the current Kobelt manufacturing facility in Surrey, Canada. The Accu-Steer Dealer network will remain intact but, henceforth, direct factory support will be provided from the Kobelt facility in Surrey.
Kobelt designs & manufactures systems that provide our customers with the safest, most trusted solutions for guiding & controlling movement. Kobelt’s propulsion controls, steering systems, thrusters, stabilizers and braking systems, along with the new Accu-Steer line of hydraulic steering actuators, offer a complete solution from a single manufacturer. Kobelt solutions are sold through a global network of distributors in over 60 countries into the marine, oil & gas, natural resources and manufacturing sectors.
Visit the Accu-Steer website, www.accu-steer.com, for more information on Accu-Steer products at this time. For more information on Kobelt systems, contact firstname.lastname@example.org or visit www.kobelt.com.
For media inquiries, contact:
Michele Lindsey or Dave Bockhold
T: +1 (604) 572-3935
Photo courtesy of Kobelt Manufacturing Co Ltd