The ASQ Center building in downtown Milwaukee will be renamed the Enerpac Center as Menomonee Falls-based Enerpac Tool Group prepares to move its global headquarters there.
BizTimes Milwaukee first reported Tuesday that the global manufacturing company is planning to move its headquarters from Menomonee Falls to the ASQ Center, and the company officially announced the move in a press release Wednesday.
The company plans to make the move in late 2024 or early 2025, after its buildout is complete for 56,000 square feet of office space on the ASQ Center’s fourth floor, according to the release. About 130 employees will be making the move to Enerpac’s downtown Milwaukee headquarters, according to a company spokesperson.
The ASQ Center, 648 N. Plankinton Ave., is currently named for the American Society for Quality (ASQ), which is headquartered in the building, but will be renamed upon Enerpac’s move.
“We are incredibly excited about this move, as the new space will better accommodate our local workforce and enable Enerpac to better retain and attract top local talent,” said Paul Sternlieb, president and chief executive officer of Enerpac, in the release. “Our new global headquarters will offer a dynamic and inspiring workplace to spur strong collaboration and drive innovation.”
Founded in 1910, Enerpac is a manufacturer of industrial tools, producing more than 50,000 products like cylinders/jacks, pumps, bolting tools, presses, pullers and heavy lifting technology. The company had nearly $600 million in net sales and $53.6 million in net earnings in its 2023 fiscal year.
The company currently employs over 2,100 people globally, of which approximately 130 are based in the greater Milwaukee area and work in company management, engineering, finance, information technology, human resources and other roles supporting its global industrial tools and services business, according to the release.
“Milwaukee continues to be an attractive place for growing companies with our amenities, our activities, and our concentration of vibrant businesses,” Milwaukee Mayor Cavalier Johnson said in the release. “My administration looks forward to working with all companies looking to relocate here.”
Enerpac’s headquarters is currently located in an 81,503-square-foot office building at N86 W12500 Westbrook Crossing in Menomonee Falls. That building was built by Milwaukee-based Irgens Partners in 2011 for Enerpac, then called Actuant Corp. The company rebranded as Enerpac in 2019.
Enerpac is joining a growing list of companies that have moved or added office space in or near downtown Milwaukee in recent years, including Veolia, which is also planning to move its office to the ASQ Center.
Enerpac was represented by commercial real estate firm CBRE and the building’s owner, Minnesota-based Hempel Real Estate, was represented by Colliers International | Wisconsin, according to industry sources.
