General Technologies, Inc. acquired Precision-Hayes International Inc. from Actuant Corporation for $23.6 million.
January 03, 2019
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General Technologies, Inc. acquired Precision-Hayes International Inc. from Actuant Corporation (NYSE:ATU) for $23.6 million on December 31, 2018. Comerica Bank, Independent Bankers Capital Fund, and Diamond State Ventures jointly provided the financing for the transaction. Will Jaco,Peter Chiu and Jessica Seff of Statesman Business Advisors, LLC acted as the financial advisors to General Technologies. Hunton & Williams LLP, Adolph Locklar and Zukowski, Bresenhan & Piazza LLP collectively represented General Technologies on transnational, real estate, intellectual property, tax, employment, environmental, and other legal matters. Clark Hill PLC acted as the legal advisor to Actuant Corporation. Harper & Pearson Company, P.C. and Moss Adams LLP provided accounting, tax, and due diligence support on behalf of General Technologies and its lenders.
General Technologies, Inc. has completed the acquisition of Precision-Hayes International Inc. from Actuant Corporation (NYSE:ATU) on December 31, 2018.
Enerpac Tool Group Corp. is an industrial tools, services, technology and solutions provider. The Company operates through Industrial Tools & Service (IT&S) segment. IT&S is a global supplier of both products and services to an array of end markets, including infrastructure, industrial maintenance, repair and operations, oil and gas, mining, alternative and renewable energy, and civil construction markets. Its primary products include branded tools, cylinders, pumps, hydraulic torque wrenches and highly engineered heavy lifting technology solutions. Its products include high-force hydraulic and mechanical tools (cylinders, pumps, valves, bolt tensioners, specialty tools and other miscellaneous products), which are designed to allow users to apply controlled force and motion. These tools operate at a pressure of approximately 5,000 to 12,000 pounds per square inch. Its branded tools and services are primarily marketed through the Enerpac, Hydratight, Larzep and Simplex brand names.
ENERPAC TOOL GROUP CORP. 
