Enerpac Tool Group

Enerpac Tool Group Corp.
FormerlyActuant Corporation
Company typePublic
NYSE: EPAC (Class A)
S&P 600 component
IndustryIndustrial Tools
Founded1910; 115 years ago (1910)
FoundersLeo Bethke, Frank Lueck, Charles Krause
HeadquartersMenomonee Falls, Wisconsin, U.S.
Area served
Worldwide
Key people
Paul Sternlieb (CEO, president)
Revenue$571M (cite FY22 annual report: Annual Reports: Enerpac Tool Group Corp. (EPAC))
Increase US$ .138 billion (2016)[1]
Total assetsIncrease US$ 1.5 billion (2018)[citation needed]
Total equityIncrease US$ .673 billion (2016)[1]
Number of employees
2,300 (2019)[citation needed]

Enerpac Tool Group Corp., formerly Actuant Corporation, was founded in 1910 and is headquartered in Menomonee Falls, Wisconsin. Enerpac Tool Group common stock trades on the NYSE under the symbol EPAC.

History

In 2010, historian John Gurda authored “The Drive To Lead”, a history of Actuant that celebrated the company's 100th anniversary.[2][3]

1910 Founded as American Grinder and Manufacturing

1927 Applied Power enters hydraulic business with Blackhawk

1958 Enerpac founded

1970 Power-Packer founded

1987 Applied Power initial public offering, trades on NASDAQ

1988 Applied Power acquires Gardner Bender from Gardner family[4]

1989 Applied Power acquires Barry Wright Corporation[5]

1992 Applied Power common stock trading moves to the NYSE

1996 Applied Power starts a roll-up of electronic contract manufacturers with the acquisition of Everest

1997 Applied Power acquires Versa Technologies, including Power Gear and Milwaukee Cylinder

1998 Applied Power reorganizes into two business groups: Industrial and Electronics to reflect the growth of the electronic contract manufacturing business

2000 In 2000, the company announced the spin-off of its electronics business segment, doing business as AWP, Ltd.[6]

2001 Applied Power changes name to Actuant

2002 Actuant successfully completes $105 million follow-on equity offering, using proceeds to retire 35% of 13% Senior Subordinated Notes

2003 Actuant acquires Heinrich Kopp A.G (European Electrical)

2004 Actuant acquires Kwikee Products (RV), and Dresco B.V. (European Electrical), and successfully completes $125,000 convertible bond offering.

2005 Actuant acquires Hedley Purvis and Hydratight Sweeney - initiating the Joint Integrity platform.[7] Also completes its largest acquisition to date - Key Components, Inc - which included Gits, Marinco, Acme and Elliott.

2006 Actuant acquires D.L. Ricci, Precision Sure-Lock, Actown and BEP Marine.

2007 Actuant deploys $163 million of capital on five tuck-in acquisitions including Veha, Injectaseal, Maxima, TTF and BH Electronics.

2008 Actuant acquires TK Simplex and Superior Plant Services, both tuck-ins to the Industrial Segment.

2009 Actuant acquires Cortland adding a new platform (electro mechanical cables & umbilicals and engineered synthetic rope) to the portfolio.

2010 Actuant celebrates its centennial.

2010 CEO Bob Arzbaecher and Actuant management ring the closing bell at the NYSE celebrating centennial.[8]

2010 CEO Arzbaecher talks with CNBC.[9]

2011 Achieves record cash flow of $158 million and deploys just over $300 million to acquire Mastervolt and Weasler Engineering.

2012 Acquisition of Jeyco Pty. Ltd. in Australia, Turotest in Brazil, and CrossControl AB in Sweden.

2013 Divestiture of Actuant Electrical segment

2013 Acquisition of Viking Sea Tech .[10]

2014 Mark Goldstein becomes President and CEO of Actuant Corporation

2015 Acquisition of Hayes Industries, Ltd for nearly 31 million US dollars.[11] Hayes Industries, Ltd. and Precision Sure-Lock are combined to form Precision-Hayes International.

2015 Actuant names Board President Bob Arzbaecher interim CEO

2016 Randy Baker becomes President and CEO of Actuant Corporation

2016 Larzep SA and FourQuest MENAC acquired.

2017 Actuant acquires Mirage Machines; sells Viking SeaTech.

The company acquired Equalizer International for $5.8 million in May 2018.[12]

2019 Actuant consolidates business to two segments: Industrial Tools & Services and Engineered Components & Systems

2019 Actuant sells off Engineer Components & Systems business to focus on Industrial Tools and Service, changing its name to Enerpac Tool Group.

2020 Enerpac Tool Group acquires controlled bolting sales and rental company HTL Group, UK

2021 Enerpac Tool Group announce Paul Sternlieb as the CEO and President

2022 Enerpac Tool Group announce a programme - Enhance Shareholder Value

Awards and recognition

  • The Robert W. Baird Outstanding Achievement Award in Employee Giving[13]
  • Forbes 400 Best Big Companies[14]
  • BusinessWeek Top 100 "Hot Growth Company"[15]
  • Investor's Business Daily: "Actuant Corp. Milwaukee, Wisconsin; Manufacturer is a switch-hitter on growth"[16]
  • Investor's Business Daily: "Actuant Seeks Out Niches To Make it Big Fish in Pond"[17]
  • Milwaukee Business Journal: "Andy Lampereur named CFO of the Year"[18]

References

  1. ^ a b "2016 Form 10-K, Actuant Corporation" (PDF). Actuant Corporation. Archived from the original (PDF) on 2016-03-22. Retrieved 2016-03-07.
  2. ^ "Did You Know?: Historian completes book about Actuant". BizTimes. 2010-10-15. Archived from the original on 2011-09-29. Retrieved 2012-01-14.
  3. ^ "Archived copy" (PDF). Archived from the original (PDF) on 2011-05-14. Retrieved 2011-10-12.{{cite web}}: CS1 maint: archived copy as title (link)
  4. ^ "Actuant to sell its electrical business". www.jsonline.com. Retrieved 2024-09-27.
  5. ^ Tribune, Chicago (1989-06-01). "FIRM MAKES HOSTILE BID FOR BARRY WRIGHT". Chicago Tribune. Retrieved 2024-09-27.
  6. ^ Serant, Claire (23 May 2000). "Applied Power to acquire Ericsson shelter enclosure businesses". EE Times. Retrieved 27 September 2024.
  7. ^ "The History of Hydratight". Hydratight.com. Retrieved 2013-02-20.
  8. ^ "NYSE, New York Stock Exchange > About Us > News & Events > NYSE Calendar Actuant Corporation Celebrates Centennial and 10 Year Anniversary of Successful Spin-Off at the NYSE". Nyse.com. Retrieved 2012-01-14.
  9. ^ "Actuant Celebrates 100 Years - CNBC". Video.cnbc.com. 2009-02-26. Retrieved 2012-01-14.
  10. ^ "Actuant Completes Acquisition of Viking SeaTech in Aberdeen, Scotland". The Motley Fool. Retrieved 2013-09-13.
  11. ^ "Actuant Purchases Hayes Industries, Ltd". Archived from the original on 2015-07-10. Retrieved 2015-07-09.
  12. ^ "Actuant Corporation acquired Equalizer International Ltd for $5.8 million. - MarketScreener". www.marketscreener.com. 2018-05-16. Retrieved 2024-12-20.
  13. ^ "THE ROBERT W. BAIRD OUTSTANDING ACHIEVEMENT AWARD IN" (PDF). Archived from the original (PDF) on 26 August 2011. Retrieved 10 April 2012.
  14. ^ "Forbes: 400 Best Big Companies". 2008-12-22. Archived from the original on August 27, 2009. Retrieved 10 April 2012.
  15. ^ "Actuant Corporation Named to Business Week's List of 100 "Hot Growth Companies"" (PDF). Business Week. Archived from the original (PDF) on 12 May 2008. Retrieved 10 April 2012.
  16. ^ Schmeiser, Lisa. "ACTUANT CORP. Milwaukee, Wisconsin; Manufacturer Is A Switch-Hitter On Growth". Investor's Business Daily. Retrieved 10 April 2012.
  17. ^ Harlin, Kevin. "Actuant Seeks Out Niches To Make It Big Fish In Pond". Investor's Business Daily. Retrieved 10 April 2012.
  18. ^ "CFO of the Year Award Winners Named". Milwaukee Business Journal. Retrieved 10 April 2012.