Industrial products group Actuant Corp. is buying a drivetrain components manufacturer for $155 million. Weasler Engineering Inc. is a Wisconsin company that focuses on the agricultural equipment and lawn-care segments, where Actuant has identified strong sales revenues based on sustained high food prices.
Actuant Corp. has manufacturing operations in a range of markets, including hydraulic and electrical tools and supplies; specialty products and services for energy industries; and position- and motion-control systems.
Weasler Engineering manufactures mechanical power transmission products for agricultural and lawn-and-turf machinery, which it supplies to OEMs in the agricultural, lawn-and-turf, construction, industrial, and marine markets. Its products include PTO drive shaft products in various styles; high-speed drive shafts (up to 3,600 rpm); a variety of torque limiters; high-end gearboxes; and torsional dampers.
The acquisition is due to close in June. Actuant will finance the purchase from available cash and its revolving credit line. Weasler had revenues of about $85 million in 2010, and has demonstrated growth thanks to its strong North American market position, its aftermarket products, and its management.
According to Actuant CEO Robert C. Arzbaecher, global demographics will continue to support rising prices for grain, protein, and food, and together with Actuant’s ability to promote Weasler’s drivetrain products on a global scale, the company’s growth factors will remain strong.
