Renk Group has acquired L3Harris Technologies Combat Propulsion Systems for roughly $400M in cash to create Renk America. The new company will provide mobility solutions to the US and allied nations. It will also become the US centre of excellence for the Renk Group.
Renk America will add to the Renk Group’s global capacity for research and development, manufacturing and service. Renk America products currently power armoured vehicles such as the BRADLEY IFV and the M88 recovery vehicle.
Renk America will convert the 1.2 million-square-foot L3Harris facility in Muskegon, Mich. into its headquarters. It expects to retain L3Harris’ nearly 400-strong staff, many of whom are military veterans. As part of the transaction, the Renk Group also acquired L3Magnet-Motor GmbH in Starnberg, Germany, an expert in hybrid drive solutions for protected vehicles and naval vessels.