Posted July 9, 2019

Actuant to sell Engineered Components segment

Actuant Corporation announced plans to sell its Engineered Components & Systems segment to an affiliate of One Rock Capital Partners.

The sale, for approximately $214.5 million, excludes Actuant’s Cortland U.S. business. The businesses included in this segment are Power-Packer, Elliott Manufacturing, Weasler Engineering, CrossControl, Maximatecc, and Gits Manufacturing.

One Rock is a private equity firm located in New York and Los Angeles that makes controlling investments in companies with potential for growth and operational improvement. 

“The agreement to sell the EC&S business represents an important milestone toward our objective of becoming a premier pure play industrial tools and services company,” said Randy Baker, president and chief executive officer of Actuant.

Moving forward, Actuant plans to focus on its Enerpac Industrial Tools & Services business and implement its strategy to be a global leader in industrial tools and services.

“We are excited about the future of the Enerpac business. Enerpac and its leading brands are global leaders in high-force hydraulic tools and equipment for diverse industrial and infrastructure applications,” Baker said.