Enerpac Tool Group
{{Short description|Industrial tool company}}
{{Multiple issues|
{{COI|date=February 2019}}
{{buzzword|date=February 2016}}
{{Update|reason=name change from Actuant to Enerpac Tool Group in 2019|date=September 2022}}
}}
{{Infobox company|
| name = Enerpac Tool Group Corp.
| logo = EnerpacLogo2.png
| former_name = Actuant Corporation
| type = Public
| traded_as = {{NYSE|EPAC}} (Class A)
S&P 600 component
| foundation = {{start date and age|1910}}
| founders = Leo Bethke, Frank Lueck, Charles Krause
| location = Menomonee Falls, Wisconsin, U.S.
| area_served = Worldwide
| key_people = Paul Sternlieb (CEO, president)
| revenue = $571M (cite FY22 annual report: Annual Reports: Enerpac Tool Group Corp. (EPAC))
| operating_income = {{Increase}} US$ .138 billion (2016){{cite web|url=http://www.actuant.com/assets/atu_ar15_web.pdf|title=2016 Form 10-K, Actuant Corporation|work=Actuant Corporation|access-date=2016-03-07|archive-url=https://web.archive.org/web/20160322010615/http://www.actuant.com/assets/atu_ar15_web.pdf|archive-date=2016-03-22|url-status=dead}}
| equity = {{Increase}} US$ .673 billion (2016)
| assets = {{Increase}} US$ 1.5 billion (2018){{citation needed|date=February 2019}}
| num_employees = 2,300 (2019){{citation needed|date=February 2019}}
| industry = Industrial Tools
| homepage =
}}
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
{{Prose|section|date=September 2022}}
In 2010, historian John Gurda authored “The Drive To Lead”, a history of Actuant that celebrated the company's 100th anniversary.{{cite web|url=http://www.biztimes.com/news/2010/10/15/did-you-know-historian-completes-book-about-actuant |title=Did You Know?: Historian completes book about Actuant |publisher=BizTimes |date=2010-10-15 |accessdate=2012-01-14 |url-status=dead |archiveurl=https://web.archive.org/web/20110929155826/http://www.biztimes.com/news/2010/10/15/did-you-know-historian-completes-book-about-actuant |archivedate=2011-09-29 }}{{cite web|url=http://www.actuant.com/actuant/content/news/managed/documents/anniversary_book.pdf |title=Archived copy |accessdate=2011-10-12 |url-status=dead |archiveurl=https://web.archive.org/web/20110514003139/http://actuant.com/actuant/content/news/managed/documents/anniversary_book.pdf |archivedate=2011-05-14 }}
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{{Cite web |title=Actuant to sell its electrical business |url=https://archive.jsonline.com/business/actuant-to-sell-its-electrical-business-b9924966z1-209928801.html |access-date=2024-09-27 |website=www.jsonline.com |language=en}}
1989 Applied Power acquires Barry Wright Corporation{{Cite web |last=Tribune |first=Chicago |date=1989-06-01 |title=FIRM MAKES HOSTILE BID FOR BARRY WRIGHT |url=https://www.chicagotribune.com/1989/06/01/firm-makes-hostile-bid-for-barry-wright/ |access-date=2024-09-27 |website=Chicago Tribune |language=en-US}}
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.{{Cite web |last=Serant |first=Claire |date=23 May 2000 |title=Applied Power to acquire Ericsson shelter enclosure businesses |url=https://www.eetimes.com/applied-power-to-acquire-ericsson-shelter-enclosure-businesses/ |access-date=27 September 2024 |website=EE Times}}
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.{{cite web|url=http://www.hydratight.com/en/about-us/company-history |title=The History of Hydratight |publisher=Hydratight.com |date= |accessdate=2013-02-20}} 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.{{cite web|url=https://www.nyse.com/events/1280310628302.html |title=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 |publisher=Nyse.com |date= |accessdate=2012-01-14}}
2010 CEO Arzbaecher talks with CNBC.{{cite web|url=http://video.cnbc.com/gallery/?video=1557594703 |title=Actuant Celebrates 100 Years - CNBC |publisher=Video.cnbc.com |date=2009-02-26 |accessdate=2012-01-14}}
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{{cite web|url=http://www.streetinsider.com/Management+Changes/Actuant+%28ATU%29+Appoints+New+CEO/11375139.html|title=Actuant Completes Acquisition of Viking SeaTech in Aberdeen, Scotland |publisher= The Motley Fool|date= |accessdate=2013-09-13}}
2014 Mark Goldstein becomes President and CEO of Actuant Corporation
2015 Acquisition of Hayes Industries, Ltd for nearly 31 million US dollars.{{cite web |url=http://www.actuant.com/actuant-purchases-hayes-industries |title=Actuant Purchases Hayes Industries, Ltd |access-date=2015-07-09 |archive-url=https://web.archive.org/web/20150710124305/http://www.actuant.com/actuant-purchases-hayes-industries |archive-date=2015-07-10 |url-status=dead }} Hayes Industries, Ltd. and Precision Sure-Lock are combined to form Precision-Hayes International.{{Cite web |last=MarketScreener |date=2019-01-04 |title=General Technologies, Inc. acquired Precision-Hayes International Inc. from Actuant Corporation for $23.6 million. -January 03, 2019 {{!}} MarketScreener |url=https://www.marketscreener.com/quote/stock/ENERPAC-TOOL-GROUP-CORP-11710/news/General-Technologies-Inc-acquired-Precision-Hayes-International-Inc-from-Actuant-Corporation-for-34463940/ |access-date=2025-01-31 |website=www.marketscreener.com |language=en-US}}
2015 Actuant names Board President Bob Arzbaecher interim CEO{{Cite web |date=2015-08-25 |title=Actuant Reappoints Arzbaecher As Interim CEO |url=https://www.inddist.com/awards/news/13767262/actuant-reappoints-arzbaecher-as-interim-ceo |access-date=2025-03-14 |website=Industrial Distribution |language=en-us}}
2016 Randy Baker becomes President and CEO of Actuant Corporation{{Cite web |last=Barrow |first=Olivia |date=13 May 2016 |title=Actuant CEO adapts to new role at diverse company: Randy Baker |url=https://www.bizjournals.com/milwaukee/print-edition/2016/05/13/actuant-ceo-adapts-to-new-role-at-diverse-company.html |access-date=2025-03-14 |website=Milwaukee Business Journal}}
2016 Larzep SA and FourQuest MENAC acquired.{{Cite web |last=Barrow |first=Olivia |date=30 March 2016 |title=Actuant acquires pipeline company in Middle East and Africa |url=https://www.bizjournals.com/milwaukee/news/2016/03/30/actuant-acquires-pipeline-company-in-middle-east.html |access-date=2025-01-31 |website=www.bizjournals.com}}
2017 Actuant acquires Mirage Machines; sells Viking SeaTech.{{Cite web |last=Dill |first=Molly |date=2017-12-01 |title=Actuant completes $12 million Viking sale to Acteon Group |url=https://biztimes.com/actuant-completes-12-million-viking-sale-to-acteon-group/ |access-date=2025-01-31 |website=BizTimes - Milwaukee Business News |language=en-US}}
The company acquired Equalizer International for $5.8 million in May 2018.{{Cite web |last= |date=2018-05-16 |title=Actuant Corporation acquired Equalizer International Ltd for $5.8 million. - MarketScreener |url=https://www.marketscreener.com/quote/stock/ENERPAC-TOOL-GROUP-CORP-11710/news/Actuant-Corporation-acquired-Equalizer-International-Ltd-for-5-8-million-34709878/ |access-date=2024-12-20 |website=www.marketscreener.com |language=en-US}}
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{{Cite web |last=Anderegg |first=Brandon |date=2020-01-16 |title=Enerpac acquires $17 million manufacturer based in England |url=https://biztimes.com/enerpac-acquires-17-million-manufacturer-based-in-england/ |access-date=2025-01-31 |website=BizTimes - Milwaukee Business News |language=en-US}}
2021 Enerpac Tool Group announced Paul Sternlieb as the CEO and President{{Cite web |last= |first= |date=2024-12-09 |title=Paul Sternlieb — Wisconsin 275 Most Influential Business Leaders |url=https://biztimes.com/paul-sternlieb-wisconsin275/ |access-date=2025-03-14 |website=BizTimes - Milwaukee Business News |language=en-US}}
Awards and recognition
- The Robert W. Baird Outstanding Achievement Award in Employee Giving{{cite web|title=THE ROBERT W. BAIRD OUTSTANDING ACHIEVEMENT AWARD IN|url=http://www.upaf.org/image/pdf/bairdaward.pdf|accessdate=10 April 2012|archive-url=https://web.archive.org/web/20110826194315/http://www.upaf.org/image/pdf/bairdaward.pdf|archive-date=26 August 2011|url-status=dead|df=dmy-all}}
- Forbes 400 Best Big Companies{{cite news|title=Forbes: 400 Best Big Companies|url=https://www.forbes.com/lists/2009/88/bigcompanies08_Actuant_THM1.html|archive-url=https://web.archive.org/web/20090827033654/http://www.forbes.com/lists/2009/88/bigcompanies08_Actuant_THM1.html|url-status=dead|archive-date=August 27, 2009|accessdate=10 April 2012 | date=2008-12-22}}
- BusinessWeek Top 100 "Hot Growth Company"{{cite web|title=Actuant Corporation Named to Business Week's List of 100 "Hot Growth Companies"|url=http://www.actuant.com/actuant/content/news/managed/documents/pr-05-29-07.pdf|publisher=Business Week|accessdate=10 April 2012|archive-url=https://web.archive.org/web/20080512012344/http://www.actuant.com/actuant/content/news/managed/documents/pr-05-29-07.pdf|archive-date=12 May 2008|url-status=dead|df=dmy-all}}
- Investor's Business Daily: "Actuant Corp. Milwaukee, Wisconsin; Manufacturer is a switch-hitter on growth"{{cite web|last=Schmeiser|first=Lisa|title=ACTUANT CORP. Milwaukee, Wisconsin; Manufacturer Is A Switch-Hitter On Growth|url=http://news.investors.com/article/416418/200603010300/actuant-corp-milwaukee-wisconsin-manufacturer-is-a-switch-hitter-on-growth.htm|publisher=Investor's Business Daily|accessdate=10 April 2012}}
- Investor's Business Daily: "Actuant Seeks Out Niches To Make it Big Fish in Pond"{{cite news|last=Harlin|first=Kevin|title=Actuant Seeks Out Niches To Make It Big Fish In Pond|url=http://news.investors.com/article/435756/200707100300/actuant-seeks-out-niches-to-make-it-big-fish-in-pond.htm|accessdate=10 April 2012|newspaper=Investor's Business Daily}}
- Milwaukee Business Journal: "Andy Lampereur named CFO of the Year"{{cite news|title=CFO of the Year Award Winners Named|url=http://www.bizjournals.com/milwaukee/stories/2009/08/24/daily70.html?page=all|publisher=Milwaukee Business Journal|accessdate=10 April 2012}}
References
{{Reflist|2}}
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Category:Companies listed on the New York Stock Exchange