Actuant Corporation (NYSE:ATU) announced today the completion of its acquisition of Weasler Engineering, Inc (“Weasler”). Total consideration for the previously announced transaction was approximately $155 million which was funded from the Company’s cash and revolving credit facility.
Headquartered in West Bend, Wisconsin, Weasler is a leading global designer and manufacturer of highly engineered drivetrain components and systems for original equipment and aftermarket agriculture, lawn & turf, and industrial applications.
The Company will be announcing its fiscal 2011 third quarter financial results on Thursday, June 16, 2011 and will provide additional information at that time about Weasler and its anticipated impact on future operating results.
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 markets and highly engineered position and motion control systems. The Company was founded in 1910 and is headquartered in Menomonee Falls, 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.