Today, Danfoss Power Solutions operates as a new business segment in Danfoss. But the history of our mobile hydraulics and controls business dates back more than 50 years.
In April 2013, Danfoss A/S acquired all remaining shares in Sauer-Danfoss Inc.. This was a company formed in 2000 through a merger between Sauer-Sundstrand and Danfoss Fluid Power. Sauer-Danfoss was delisted from NYSE and became a privately owned company, 100% owned by Danfoss.
In September 2013, Sauer-Danfoss officially changed name to Danfoss. Now it operates as a new business segment in Danfoss known as Danfoss Power Solutions.
Sauer-Danfoss
Sauer-Danfoss was a result of a carefully crafted merger in May 2000 and a series of strategic acquisitions along the way. All enhancing our product offerings and system solution capabilities. The bond that formed Sauer-Danfoss had two distinct, yet related beginnings. The two sides of the story include those of Sauer-Sundstrand and Danfoss Fluid Power.
Sauer-Sundstrand
Sundstrand Machine Tools began in 1946 and the name changed to Sundstrand Corporation in 1959. Sundstrand Hydro-Transmission evolved in 1961 as a highly regarded US-based company focusing on hydraulics. Meanwhile, Klaus Murmann of Germany began working on pumps and other hydraulic products under the name Sauer Getriebe in 1967. In 1987, Murmann established a joint-venture under the name Sundstrand-Sauer.
In 1989, Sundstrand sold its interest and the company name was changed to Sauer-Sundstrand. Sauer Inc. is the holding company for all Sauer-Sundstrand activities. It went public on the New York and Frankfurt stock exchanges on May 11, 1998.
Danfoss Fluid Power
Established in 1933 by Mads Clausen as Danish Refrigeration Controls and Apparatus Manufacturer, the name changed to Danfoss in 1946. In 1964 the first Danfoss hydraulic product was developed in Nordborg, Denmark. Between 1990 and 1996, multiple acquisitions in the USA and one in Poland formed the beginning of a global enterprise.
In 1998, Danfoss Hydraulics became an independent company under the name of Danfoss Fluid Power A/S, setting it apart from the Danfoss core business.
The merger in 2000
The Clausen and Murmann business interests grew just miles apart in Denmark and Germany. While aware of each other’s business interests, they first came together in 1992 with discussions over development of a pump. What began as an agreement to cooperate on complementary products became a mutual interest in global growth and business development.
Discussions proceeded over the years. On January 22, 2000 Jørgen Mads Clausen and Klaus Murmann signed the agreement at Glücksburg Castle in Germany. Resulting in the May 3rd, 2000, merger.
What followed was a success story of global proportion as Sauer-Danfoss continued to build its market prominence worldwide.
In July 2008, Danfoss A/S acquired more than 50 percent of the outstanding common stock of Sauer-Danfoss Inc. In November 2009, Danfoss A/S acquired the remaining shares of Sauer-Danfoss Inc. held by Sauer Holding GmbH. Bringing Danfoss' share holding in Sauer-Danfoss Inc. to approximately 76 percent.
New business structure
In July 2010, the Sauer-Danfoss business structure was adjusted, which included the creation of three new businesses under separate brands:
- Turolla™ designs, manufactures, and sells open circuit gear pumps and motors
- Comatrol® designs, manufactures, and sells cartridge valves and HICs
- Schwarzmüller-Inverter™ designs, manufactures, and sells electric inverter products
In May 2011, Sauer-Danfoss launched a fourth business under its own brand:
- Valmova™ manufactures and sells directional control valves
Comatrol, Turolla, Schwarzmüller-Inverter and Valmova are fully owned by Danfoss. However, they operate as smaller, more agile entities, and manage their own sales, production, and support organizations.
In September 2016, Danfoss acquired full ownership of White Drive Products, Inc. This acquisition solidified Danfoss as a leading provider of hydraulic motors. This led to bringing more capacity and greater innovation power to the global market. The business was integrated in Danfoss Power Solutions, already a strong force in the mobile hydraulic market. It greatly expanded our recognized expertise, strong product portfolio and overall global footprint.
