The 2020 Mid-Year Economic Update_long

Actuant Agrees to Sell Electrical Segment for $258M

Actuant will sell the segment to Sentinel Capital Partners.

Actuant Corp. (NYSE: ATU), Milwaukee, WI, has agreed to sell its electrical segment to Sentinel Capital Partners for $258 million in cash. 

In June, Actuant announced that its board of directors authorized a plan to divest the electrical segment to refocus on the remaining businesses and better position the company to take advantage of its core competencies, current business model and global growth trends.

The electrical segment primarily serves the retail do-it-yourself, marine, industrial OEM and wholesale electrical markets with a variety of products under the Gardner Bender, Marinco, Mastervolt, Acme and Turner Electric brands. In fiscal 2013, it had sales of about $300 million. The segment employs about 1,000 and operates from six locations globally, with headquarters in Menomonee Falls, WI.

The transaction is expected to close within 45 days.

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