RENK Group AG Completes Acquisition of Cincinnati Gearing Systems Inc.

RENK Group AG, a leading supplier of military and civilian propulsion solutions, has successfully completed the acquisition of Cincinnati Gearing Systems Inc. (“CGS Inc.”), a U.S.-based manufacturer of precision gears and power transmission technologies. Effective immediately, CGS Inc. will operate under the name RENK America Marine & Industry LLC. Founded in 1907, CGS Inc. has long been recognized as a leader in the design and manufacture of precision gears and power transmission equipment, components and spare parts for both military and industrial applications. Headquartered in Mariemont, Ohio, with an additional facility in Milford, Ohio, CGS Inc. adds approximately 15,000 square meters of production space and over 100 skilled employees to the RENK Group. The acquisition marks a significant milestone in RENK’s global expansion strategy, particularly in strengthening its presence in the North American market and deepening its focus on serving the US Navy and allied forces. “The acquisition is a pivotal step in our efforts to build a stronger presence in North America”, said Dr. Alexander Sagel, CEO of RENK Group AG. “RENK America Marine & Industry LLC will support our strategic growth initiatives and strengthens the basis for RENK’s profitable growth in the naval sector but also strengthens our ability to deliver mission-critical solutions for customers worldwide especially.” With the addition of RENK America Marine and Industry LLC, RENK Group now employs around 4,100 people across 21 locations worldwide. “We are excited to officially join the family and begin this new chapter as a part of the strong RENK Group”, said Patrick Potter, President of RENK America Marine & Industry LLC. The transaction includes all assets of CGS Inc., including the facilities in Mariemont and Milford, Ohio. The parties have agreed not to disclose the purchase price of the transaction.