Biach is a great addition to our diversified energy platform, broadening our product and service offering for the global nuclear power generation market
– By Stephen Heiser –
Actuant Corporation has announced that it has completed the acquisition of New Jersey based Biach Industries (“Biach”) which provides custom designed bolt and stud tensioning products and services, predominately for the nuclear industry. Biach’s annual sales approximate $6 million.
“Biach is a great addition to our diversified energy platform, broadening our product and service offering for the global nuclear power generation market. Its strong customer relationships, engineering expertise and customized products will further strengthen our market leading joint integrity solutions for the global energy markets.”
The acquisition will operate as part of Hydratight in Actuant’s Energy Segment. Brian Kobylinski, Executive Vice President Energy and Industrial Segments, stated.
On Apr 14, 2010 Actuant announced that it had expanded its Enerpac Integrated Solutions capabilities with the acquisitions of Team Hydrotec and Hydrospex. The combined businesses generate approximately $30 million in annual revenue.
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.
Based in Singapore, Team Hydrotec provides engineering and integrated solutions systems to the Asian energy, ship building, mining and other industries. Headquartered in The Netherlands, Hydrospex is a leading provider of a broad range of heavy-lift technologies including strand jacks and gantries for the global infrastructure, power generation and other industrial markets.
The acquisitions will operate as part of Enerpac's Integrated Solutions business within Actuant's Industrial Segment. Brian Kobylinski, Executive Vice President Energy and Industrial Segments, stated, "We recently created a global organization within Enerpac to further our focus on Integrated Solutions – the combining of our world class hydraulic technology with extensive controls and engineering expertise. The products, technologies, engineering and geographic breadth of Team Hydrotec and Hydrospex are complementary to our existing competencies and will further strengthen our market leading heavy-lift solutions for the global infrastructure and other markets."
The approximate $20 million used for the acquisitions was funded from the Company's revolving credit facility.