Menomonee Falls-based Actuant Corp. has completed its acquisition of Weasler Engineering Inc. of West Bend from American Securities, a New York-based private equity firm, for a total consideration of approximately $155 million.
Weasler generated approximately $85 million in revenue in the past twelve months.
American Securities, together with members of the management team, acquired Weasler Engineering in October 2005. Weasler Engineering is a leading global designer and manufacturer of highly engineered drivetrain components and systems for agriculture, lawn and turf, and industrial equipment.
Headquartered in West Bend, Weasler also maintains sales and manufacturing facilities in the Netherlands and Hungary.
Jim Hawkins, chief executive officer of Weasler, said, "Actuant is a terrific long-term home for Weasler. We have had an excellent partnership with American Securities and appreciate all their support in helping us advance to new levels in the marketplace, including embarking into new end markets. We look forward to continuing to grow our business and strengthen our customer relationships under this new ownership and partnership with Actuant."
Marc Saiontz, a managing director of American Securities, said, “We believe Actuant will be a great steward for Weasler’s business and its employees moving forward. American Securities in partnership with Jim Hawkins and the rest of the management team worked to help develop and implement a lean manufacturing program, standardize its IT platform internationally, enhance its Asia sourcing initiatives and successfully complete a product line expansion. As a market-leading company in a stable demand industry, Weasler achieved superior growth and a strong investment return."