Actuant Corporation acquires Precision Sure-Lock 
(17/10/2006)
Actuant Corporation has purchased the outstanding stock of Precision Sure-Lock for approximately $43 million. Funding was provided from borrowings under Actuant’s revolving credit facility.
Precision Sure-Lock, based in Dallas, Texas, generated approximately $25 million of sales in the last twelve months and employs approximately 75 associates. It maintains a leading U.S. market position in the concrete pre- and post-tensioning product markets.
Its products include one-time use and reusable chucks and wedges, stressing jacks, and anchors that are used by concrete tensioning system designers, fabricators, and installers. End markets include residential, commercial, and public-works concrete construction, underground mining, and ground stabilization. No other financial terms are being disclosed.
Precision Sure-Lock will be part of the industrial tools business within Actuant's Tools & Supplies segment.
Mark Goldstein, Executive Vice President of Actuant and Tools & Supplies Segment Leader, stated: "Precision Sure-Lock is a great addition to the industrial tools business. Its products are used by similar end users and on similar projects and given our global reach, we see opportunities to expand the geographical markets Precision Sure- Lock currently serves. The above average growth of tensioning as a method to reinforce concrete is also attractive. Additionally, the consumable nature of Precision Sure-Lock’s products will provide product diversification and a recurring revenue stream, both of which are important. Bob Van Noord, the current President and CEO of Precision Sure-Lock, and his team will continue to run the business, reporting to George Bowman, Enerpac President."
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