Enerpac Tool Group Acquires HTL Group
MILWAUKEE--(BUSINESS WIRE)-- Enerpac Tool Group (NYSE:EPAC) announces that it has acquired HTL Group, based in Cramlington, England. With fiscal 2019 revenue of approximately $17 million, HTL Group is the UK’s leading provider of controlled bolting products. HTL’s capabilities also include a strong rental business as well as calibration and repair and training services. The acquisition of HTL is aligned with Enerpac Tool Group’s strategy of becoming a pure-play Tools and Services company and expands its portfolio of bolting products as well as its global rental offering.
About Enerpac Tool Group
Enerpac Tool Group is a premier industrial tools and services company serving a broad and diverse set of customers in more than 90 countries. The Company’s businesses are global leaders in high pressure hydraulic tools, controlled force products and solutions for precise positioning of heavy loads that help customers safely and reliably tackle some of the most challenging jobs around the world. The Company was founded in 1910 and is headquartered in Menomonee Falls, Wisconsin. Enerpac Tool Group trades on the NYSE under the symbol EPAC. Although the Company has adopted “Enerpac Tool Group” as its doing-business name, its legal name continues to be Actuant Corporation until the change is approved by its shareholders. For further information on Enerpac Tool Group and its businesses, visit the Company's website at www.enerpactoolgroup.com.
Safe Harbor Statement
Certain of the above comments represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. Management cautions that these statements are based on current estimates of future performance and are highly dependent upon a variety of factors, which could cause actual results to differ from these estimates. Among other risks and factors, Enerpac Tool Group’s results are subject to general economic conditions, variation in demand from customers, the impact of geopolitical activity on the economy, continued market acceptance of the Company’s new product introductions, the successful integration of acquisitions, restructuring, operating margin risk due to competitive pricing and operating efficiencies, supply chain risk, material and labor cost increases, tax reform, foreign currency fluctuations and interest rate risk. See Actuant Corporation’s Form 10-K for the fiscal year ended August 31, 2019 filed with the Securities and Exchange Commission for further information regarding risk factors. Enerpac Tool Group disclaims any obligation to publicly update or revise any forward-looking statements as a result of new information, future events or any other reason.
EVP and Chief Strategy Officer
Source: Enerpac Tool Group
Released January 15, 2020