Actuant sells RV business for $35.5M

Special to The Freeman

June 16, 2014

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, Actuant CEO.