Oshkosh’s Acquisition of Hinowa SpA

Oshkosh’s Acquisition of Hinowa SpA

Studio Tognetti advised Hinowa SpA on its acquisition by Oshkosh Corporation. Dentons also advised Hinowa.

Founded in 1987 by a family of inventors and mechanical engineers in Nogara, Italy, Hinowa is a significant player in the production of aerial and earthmoving platforms. Today, the firm employs approximately 230 people and owns assets including 30,000 square metres of covered facilities within a total of 90,000 square metres of owned land making up its headquarters. The company has recently invested in the development of an autonomous welding machine, with plans to further develop its product portfolio.

Oshkosh Corporation is a US-based company engaged in the design and production of aerial work platforms, special purpose vehicles, military vehicles, bodies and airport fire engines. With its acquisition of 100% of Hinowa’s share capital, the firm is expected to strengthen its global growth strategy.

Studio Tognetti advised Hinowa on tax matters with a team comprising Dr. Alberto Tognetti, Dr. Valentina Lonardi and Dr. Mario Tognetti.


Lawyer Monthly had the pleasure to speak with Alberto Tognetti at Studio Tognetti to give us some further insight into this transaction:

How did your team engage with this acquisition?

Studio Tognetti mainly operates in the province of Verona, working with important companies such as Hinowa, assisting them with fiscal and corporate consultancy, and with payroll managing and job advisory (supported by our partner Mr Stefano Canazza). Having supported Hinowa for over 15 years, it was natural for us to be part of this acquisition. The team who took part in the operation brought, in my opinion, a good combination of experience and enthusiasm, with experts and young people who, using their personal skills, allowed us to complete this operation successfully.

What specialised skills and knowledge did you bring to the process?

We assisted Hinowa in the due diligence part, particularly on the fiscal and accounting aspects, and in the drafting of the contract on the same subjects.

The main skill I could indicate would definitely be accuracy. In this kind of operation, where there are a lot of documents and many people to interface with, it is easy to overlook something or make mistakes. Method and precision are essentials in these situations.

Moreover, the knowledge of the fiscal and corporate aspects of the company, given by our 15-year relationship with Hinowa, allowed us to give the right answers to all the questions included in the due diligence process.

Did you encounter any significant challenges during the acquisition? If so, how did your team overcome them?

We of course had some criticality and differing points of view during the acquisition process, but with the experience and expertise of every professional involved in the operation, we were able to overcome those challenges.

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