Menomonee Falls-based manufacturer Enerpac Tool Group acquired HTL Group, a bolting products manufacturer based in Cramlington, England.
In addition to manufacturing bolting products, HTL Group has a rental business and also offers calibration, repair and training services. The company had around $17 million in revenue in fiscal 2019, according to a press release.
In a statement, Enerpac said the HTL Group acquisition is “in alignment with Enerpac’s strategy of becoming a pure-play tools and services company, while expanding its portfolio of bolting product and its global rental offering.”
Enerpac recently changed its name from Actuant Corp., a name that emerged in 2000 to carry on the diversified industrial businesses of Applied Power when that company’s electronics business was spun off as APW Ltd.
In recent years, Actuant has worked to transition away from a diversified model and instead, focus on industrial tools for several markets.
The largest component of Enerpac’s transition was a $214.5 million deal to sell the company’s engineered components and systems division to New York private equity firm One Rock Capital Partners LLC, which closed last year.
