ACQUISITIONS: Actuant Acquires Hydratight Sweeney

John Wolz

Actuant Corp. announced it has acquired Hydratight Sweeney, a U.K. manufacturer of bolting products, for $93 million from Dover Diversified Inc.
Glendale, WI-based Actuant, listed on the NYSE with the symbol ATU, has $1 billion in global sales and 5,000 employees worldwide.
Hydratight Sweeney will be managed as part of Enerpac under Actuant”s Tools & Supplies segment. Enerpac, headed by Marius Schueler, manufactures high-force hydraulics for the industrial, power generation, civil, maintenance and oil and gas markets.
Don Fancher will continue to head Hydratight Sweeney, which has locations in Europe, Brazil, Japan, Saudi Arabia and the U.S. .
The bolting business unit was recently established within Enerpac to “take advantage of the tremendous growth opportunities in the oil and gas industry,” according to an Actuant news announcement. Enerpac”s bolting business already included Hedley Purvis and Enerpac bolting units.
With the addition of Hydratight Sweeney, the bolting unit”s sales total approximately $90 million and include 500 employees in 20 countries.
Actuant manufactures motion control systems and branded hydraulic and electrical tools sold under the brand names including Enerpac, Gardner Bender, Kopp, Kwikee, Milwaukee Cylinder, PowerPacker and Power Gear.\ �2005 FastenerNews.com