27.05.2005

Enerpac acquires Hydratight

Actuant, the parent of Enerpac, the heavy lifting and hydraulics specialist, has acquired UK based Hydratight Sweeney, which provides bolting products and services to the Offshore, oil and gas and other industries, for $93 million.
Hydra tight will report into Enerpac, which is part of Actuants Tools and supplies sector.

Commenting on the transaction, Actuant chief executive Robert Arzbaecher said: "Hydratight Sweeney continues Actuant's bolting initiative. Combined with our existing Enerpac and Hedley Purvis organisations, we now have $90 million of bolting related product sales and 500 employees operating in 20 countries worldwide."

Mark Goldstein, executive vice president of the Actuant Tools & Supplies added: "We identified the bolting market as a key growth driver for our Enerpac business two years ago and determined that developing a complete product line including service was critical to our success. Hydratight Sweeney accomplishes