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Article: Actuant Acquires Templeton, Kenly & Co.
- Article from:
- Business Wire
- Article date:
- September 13, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MILWAUKEE -- Actuant Corporation (NYSE:ATU) announced today that it has acquired Templeton, Kenly & Co, Inc. ("TK") for approximately $48 million in cash. Funding for the completed transaction came from the Company's revolving credit facility.
Headquartered in Broadview, Illinois, TK produces hydraulic pumps and tools, mechanical jacks, wrenches, and actuators. Its products are sold under well established brand names including Simplex, Uni-Lift, and Pow'r-Riser. TK generated approximately $33 million in sales in the last year, and has approximately 120 employees.
TK will operate within Actuant's Industrial Segment, which includes Enerpac. Mark Goldstein, ...