Actuant announces the adoption of its new business name, Enerpac Tool Group, following the anticipated divestiture of its Engineered Solutions and Systems (“EC&S”) segment in the calendar fourth quarter of 2019.
The company also launched a new corporate website at www.enerpactoolgroup.com and will begin trading under a new NYSE ticker symbol (EPAC) on Monday, October 7th.
The new name signifies the company’s continued progression toward becoming a premier pure-play industrial tools and services company with the Enerpac brand at its core.
Enerpac Tool Group will continue to be led by President and Chief Executive Officer Randy Baker and the headquarters will remain in Menomonee Falls.
The company plans to grow the business both organically and through acquisitions aligned with its new concentration on tools. Enerpac Tool Group will become a more meaningful partner to customers and suppliers as it expands its tools and services offering.