MENOMONEE FALLS – Actuant Corp. said Monday it has sold
its recreational vehicle business to Drew Industries
Inc. for $35.5 million.
The company also announced its purchase of Sugarland,
Texas-based Hayes Industries Ltd., a maker of concrete
pre- and post-tensioning products, for $31 million. The
acquisition has the capacity of generating an annual
revenue of $25 million.
Menomonee Falls-based Actuant’s RV division posted
annual revenue of $30 million. Elkhart, Ind.-based Drew
Industries will operate the business under its wholly
owned subsidiary, Lippert Components Inc.
“We are pleased to have completed the divestiture of the
RV business to a strategic buyer whose complementary
product offerings provide a clear fit for the business.
The sale is part of our ongoing portfolio management
efforts to proactively focus Actuant on our four macro
growth markets of energy, infrastructure, food/farm
productivity and natural resources/sustainability, where
we can build meaningful positions and support our
strategic growth initiatives,” said Mark Goldstein,