RENK Group expands U.S. presence with acquisition of Cincinnati Gearing Systems

This acquisition marks a significant milestone in RENK Group’s global expansion strategy, particularly within the U.S. military sector. “I am very pleased that we have achieved this decisive step in localizing our Navy activities in this important market,” stated Susanne Wiegand, CEO of RENK Group AG.

RENK Group sees the acquisition as a crucial step to strengthen its presence in North America and bolster its reputation as a trusted provider of mission-critical propulsion solutions. Dr Alexander Sagel, COO of RENK Group AG, commented, “With the acquisition of Cincinnati Gearing Systems Inc., we are further expanding our local presence in the North American market and strengthening our role as a manufacturer of mission-critical propulsion solutions in the military sector. At the same time, we are strengthening the basis for further profitable growth in the naval sector and are reinforcing our position as a trusted partner for our allies.”

The deal will add over 100 employees to RENK Group’s workforce, increasing its global headcount to nearly 4,000 across 22 locations. CGS Inc. operates two facilities in Ohio – its Mariemont headquarters and a second location in Milford – with a combined production area of approximately 15,000 square metres.

Patrick Potter, President of CGS Inc., welcomed the acquisition. “We are very pleased to become part of the global RENK family. Being part of the group will strengthen our role as a supplier to the U.S. Navy. CGS Inc.’s many years of experience and operational expertise in the North American market, coupled with the technology of the RENK Group, will enable our company to continue to grow profitably,” he said.

The agreement includes all CGS Inc. assets, with the transaction expected to close in the first quarter of 2025 following regulatory approvals and customary conditions. Financial terms of the deal remain undisclosed.