Westport, Conn.-based Terex Corporation today announced that it has acquired Hydra Platforms Mfg. Based in Rock Hill, S.C., Hydra Platforms manufactures truck- and trailer-mounted self-erecting under-bridge access equipment used for bridge construction, maintenance and inspection. Terms of the acquisition were not disclosed.
Hydra Platforms will become part of the Terex Roadbuilding segment and will work with the company's Bid-Well subsidiary. Bid-Well is the leading manufacturer, seller and service provider of bridge paving equipment in the United States.
“Hydra is a leader in a growing market for under-bridge access,” said George Ellis, vice president and general manager, Terex Roadbuilding. “More than 93 percent of bridges in the United States were built before 1980, and 25 percent have been designated as structurally deficient or functionally obsolete. As a result, more funds are being committed for bridge inspection and repair. Hydra Platforms' products provide a cost-effective tool for bridge contractors, engineers and state Departments of Transportation to address this vital public safety aspect of our nation's aging infrastructure.”
Ellis called Hydra Platforms an “excellent strategic fit” for Terex because the Bid-Well organization serves the same customer base. “Through Bid-Well, we hope to expand Hydra's national and international reach,” he said.