Netherlands-based hydraulic heavy lifting equipment specialist Hydrospex has been acquired by Actuant Corporation. Actuant is the US-based owner of Enerpac Integrated Solutions of which Hydrospex will become a part.
At the same time, Actuant acquired Singapore-based engineering services company Team Hydrotec, also to be part of Enerpac, an industrial hydraulics and jacking equipment company in Actuant's Industrial business segment. Both acquisitions cost a total of around US$ 20 million.
"The products, technologies, engineering and geographic breadth of Team Hydrotec and Hydrospex are complementary to our existing competencies and will further strengthen our market leading heavy-lift solutions for the global infrastructure and other markets," said Brian Kobylinski, Actuant executive vice president energy and industrial segments.