Sale to One Rock Capital Partners, LLC

Industrial
Sale to One Rock Capital Partners, LLC

Summary

Baird served as the exclusive financial advisor to Enerpac Tool Group on this transaction and provided a fairness opinion to the board of directors of Enerpac Tool Group

About

Enerpac Tool Group (“Enerpac” or the “Company”) (NYSE:EPAC) recently completed the sale of its Engineered Components & Systems (“EC&S”) segment to an affiliate of One Rock Capital Partners, LLC (“One Rock”) at a purchase price of approximately $214.5 million (with approximately $3.0 million to be paid in four quarterly installments after closing).

Enerpac Tool Group is a premier industrial tools and services company serving a broad and diverse set of customers in more than 90 countries. The Company’s businesses are global leaders in high pressure hydraulic tools, controlled force products and solutions for precise positioning of heavy loads that help customers safely and reliably tackle some of the most challenging jobs around the world. The Company was founded in 1910 and is headquartered in Menomonee Falls, Wisconsin. Although the Company has adopted “Enerpac Tool Group” as its doing-business name, its legal name continues to be Actuant Corporation until the change is approved by its shareholders.

EC&S, which has been renamed CentroMotion after this transaction, is a global business serving the agriculture, specialty and commercial vehicle, construction and other industrial end-markets with motion, actuation and control solutions. CentroMotion primarily serves on and off-highway OEMs with highly engineered system-critical motion, actuation and control solutions under brands that include CrossControl, Maximatecc, Elliott Manufacturing, Gits Manufacturing, Power-Packer and Weasler Engineering. EC&S has 13 manufacturing facilities and six engineering centers, with approximately 190 engineers in multiple geographies. CentroMotion sells its products to numerous end-markets internationally.


One Rock makes controlling investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select industries. The involvement of these Operating Partners affords One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and its profitability to enhance long-term value.
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Industrial
Sale to One Rock Capital Partners, LLC
Date
October 2019
Company
Enerpac Tool Group’s Engineered Components & Systems
Transaction
M&A
Sectors
Industrial
Target Location
North America
Acquiror Location
North America

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