ENERPAC parent company acquires Hydrospex and Team Hydrotec
Ede, The Netherlands / Milwaukee, WI, USA. April 14, 2010 -- Actuant Corporation (NYSE:ATU) parent company of Enerpac announced today that it has purchased the shares of Hydrospex, headquartered in Hengelo, The Netherlands. Hydrospex designs and manufactures systems and products for the heavy lifting market, including strand jacks, hydraulic gantries and skidding systems. Its customer base includes heavy lifting companies such as Mammoet, Sarens, Burkhalter and Bigge.
Mark Sefcik, President of Enerpac, commented, “Hydrospex’ market leadership, strong brand, and broad product and systems portfolio complements our Enerpac business. Our Integrated Solutions Division is one of our primary growth drivers, and the combination between Hydrospex and the Enerpac global network will help accelerate that growth”.
Hydrospex will report into the Integrated Solutions Division of Enerpac. Tjerko Jurgens, CEO and owner of Hydrospex, and his team have worked hard over the past 25 years to develop a position in the marketplace. We believe that the combination of Hydrospex’ heavy lifting capabilities with Enerpac’s synchronisation expertise and global footprint will offer customers a complete provider of hydraulic/mechanical systems for the movement of heavy structures and objects. I look forward to working with Tjerko and his management team as we expand our industrial tool portfolio.”
Enerpac also completed the acquisition of Team Hydrotec based in Singapore, which brings strong engineering capabilities. Both acquisitions confirm Enerpac’s ambition to offer its Integrated Solutions on a global scale and widen its technology offering.
Actuant Corporation is a diversified industrial company with operations in more than 30 countries. The Actuant businesses are leaders in a broad array of niche markets including branded hydraulic and electrical tools and supplies; specialized products and services for energy related industries and highly engineered position and motion control systems. The Company was founded in 1910 and is headquartered in Butler, Wisconsin. Actuant trades on the NYSE under the symbol ATU. For further information on Actuant and its businesses, visit the Company's website at www.actuant.com.
Enerpac Integrated Solutions B.V.
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