Actuant acquires hydraulic pumps/tools maker TK

Actuant Corporation announced September 13 that it has acquired Templeton, Kenly & Company Inc. (TK) for approximately $48 million in cash. Funding for the completed transaction came from the company’s revolving credit facility.

Headquartered in Broadview, Ill., 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, chief operating officer of Actuant, stated: “TK is a great addition to our global industrial platform. Their leading positions in the mechanical jack product line and the railroad end market represent attractive market extensions for Actuant, and we are excited about the prospects for utilizing our global distribution network to accelerate the sales of these products. In addition, TK’s hydraulic pumps and tools are an excellent complement to our Enerpac product line. TK president Tom Danza and his management team have been successful in creating a growth platform, and we look forward to them joining the Actuant team.”

Actuant, headquartered in Butler, Wis., is a diversified industrial company with operations in more than 30 countries. The Actuant businesses are market leaders in highly engineered position and motion control systems and branded hydraulic and electrical tools and supplies. The company employs a workforce of more than 6,700 worldwide.