Brazil-based transportation equipment manufacturer Randon Companies is entering the U.S trailer market, acquiring chassis specialist Hercules for $40 million, the company reported. Through its Randon Implementos division, the company seeks to “enhance its internationalization strategy” with the investment, the June 18 announcement stated. The deal should be finalized within 120 days.
“Entering the North American market is a historic milestone for Randon Implementos, with growth potential due to competitiveness and the characteristics of that country’s transport and logistics model,” said Sandro Trentin. the superintendent director of the Trailers Vertical of Randon Companies.
“We work to maintain the company's sustainable growth, and we believe that entering the largest semi-trailer market in the western world will be a fundamental factor for us to follow this route, enhancing synergies and expanding the ability to withstand the challenges of market volatility and the global economy,” Randon CEO Sérgio L. Carvalho said.
Randon Implementos is the largest semi-trailer manufacturer in Latin America and one of the largest in the world. In addition to manufacturing plants throughout Brazil, the company currently maintains an industrial plant in Argentina, and works with partners to assemble semi-trailers at several strategic global logistics points in Central America and Africa. It is the main Brazilian exporter in the segment, with a historical market share of 60% in exports, according to Randon.