Bolzoni is/was a public company. Check out their numbers on their website, all public.
Here's what Nacco/HY bought
- based on what I read from 1st half '15, sales around $180 million/yr
- Majority (65%+) sales in Europe
- Losing money in N America and Asia, making money in Europe
- profit of around 6-7% bottom line per year

Effectively Nacco bought an attachment company that is about the size of a mid-sized Hyster/Yale dealer in the USA. With similar profit margins.

Legacy of Nacco: weak management bench, rarely promotes/grooms from within, often looks outside the organization to hire. Rotating door of talent.

NFL analogy. Crown/Toyota = Green Bay Packers, New England Patriots. Promote from within. Groom and develop players. Hyster/Yale = Washington Redskins, or NY Jets.

Past acquisition history: not much, weak at best. A few attempts at company owned stores (Europe, Hyster Mideast, a few others) that ended up failures and being sold.

Current management focus: Nuvera (fuel cells), new class 5 truck, and various attempts at flavor of the month technology (telematics).

My prediction and forklift action appears to be archiving these posts forever. HY holds on to Bolzoni for 10 years tops then spins off the division after realizing synergies never came to fruition.