The deal, for an undisclosed sum, sees Homag increase its shareholding in Michigan-based Stiles from 26.7% to 100%.

"Within our industry, the US is one of the dynamic markets with growth opportunities and is of strategic importance for us," said Homag Group CEO Dr Markus Flik.

"This measure [acquiring Stiles] allows us to benefit directly from the anticipated reindustrialisation in the US in which we will now play a role on account of our direct market access."

Stiles employs more than 290 people and generated sales of about US$158m in 2013, up 22% on 2012.

US analysts predict that increased US industrial activity and a need for investment will lead to similar growth rates over the next few years for stand-alone machines and production lines.

Homag said it would use its project expertise on building production lines to serve the growing US project business.

Stiles will continue to trade under its own name and its owner Peter Kleinschmidtis is retiring.