Enerpac parent acquires Hydratight

30 April 2008

Actuant Corporation, the parent company of Enerpac, has completed the acquisition of UK-based Hydratight Sweeney for $93 million. The British company manufactures bolting products and offers services to the oil and gas, power generation, industrial, and other end-user markets.

Actuant president and CEO, Robert Arzbaecher said, “Hydratight Sweeney continues Actuant's bolting initiative. Combined with our existing Enerpac and Hedley Purvis organizations, we now have $90 million of bolting related product sales and 500 employees operating in 20 countries worldwide.”

Hydratight Sweeney will merge into the Enerpac business and be included in Actuant's Tools & Supplies segment. Mark Goldstein, executive vice president, said, “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 this, adding product, service and scale to our portfolio.

Delivered directly to your inbox, World Crane Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Latest News
Paul van Gelder: lifting industry has important role in renewables
Mammoet CEO will use CATME speech to argue that renewable energy facilities have to be built “a lot faster”
Girotti is new GM at Manitex Valla
Fabrizio Girotti now responsible for Italian manufacturer Valla cranes in addition to Oil & Steel aerials
David Scales joins Chesterfield Trading sales team
Effective February 1, Scales will become a member of the sales team as a crane, wire rope and rigging specialist.
D.Ann Shiffler Editor, American Cranes & Transport Tel: +1 512 869 8838 E-mail: d.ann.shiffler@khl.com
Matt Burk VP Sales Tel: +1 312 496 3314 E-mail: matt.burk@khl.com