Menomonee Falls-based Actuant Corp. announced it has acquired Jeyco Pty Ltd , an Australian designer and provider of specialized mooring, rigging and towing systems and services to the offshore oil and gas industry.
Jeyco’s products also are used in a variety of applications for other markets, including cyclone mooring and marine, defense and mining tow systems. Jeyco generates annual revenues of approximately $20 million.
Jeyco will operate as part of the Cortland business within Actuant’s Energy Segment.
Brian Kobylinski, executive vice president of the Actuant Industrial and Energy Segments, said, "Jeyco is a great addition to our global energy platform, adding significant presence to our offshore oil and gas business in the important Australian region. Its customer relationships and highly technical workforce represent excellent complements to our existing Cortland business. Jeyco will serve as the base for Cortland’s full product range which includes engineered ropes and slings, dynamic umbilicals and electro-optic cables in the Southeast Asian region. Jeyco’s management has been successful in growing their business and we look forward to them joining the Actuant team."
