DENVER—Gates Industrial Corp. P.L.C. completed its acquisition of Rapro, a manufacturer of molded and branched hoses.
Rapro, based in Izmir, Turkey, will strengthen Gates' position in the European fluid power business, according to a Gates release. Details of the acquisition were not disclosed.
Rapro operates two manufacturing distribution facilities and serves customers across 40 countries, and offers a comprehensive portfolio of replacement market products, Gates said. Rapro's products are used primarily in the commercial, heavy-duty and light vehicle replacement applications.
The company has annual sales of about $25 million.
Rapro's product range, geographic coverage and established customer relationships accelerate Gates' growth strategy in the replacement markets, said Gates CEO Ivo Jurek. Its products will fit into Gates' distribution network and open up new industrial transportation markets. Rapro reinforces Gates' overall strategy to expand in emerging markets.