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Slide #96. Actuant Corporation — Viking SeaTech
Actuant Corporation (ATU)
Actuant Corporation (NYSE:ATU) announced today the signing of a definitive agreement to acquire Viking SeaTech ("Viking"). The purchase is subject to customary regulatory approvals and closing conditions, and is expected to be completed within 45 days. The approximately 150 million ($225 million) purchase price will be funded from the Company's cash and revolving credit facility, and excludes potential future performance related consideration. Viking generated approximately $90 million in revenue in the past twelve months.
Actuant designs, manufactures and distributes a range of industrial products and systems to various end markets. Co. has two operating segments: Industrial Tools and Services and Engineered Components and Systems. Co.'s Industrial Tools and Services segment is a supplier of both products and services to an array of end markets, including the industrial, energy, mining and production automation markets. Co.'s Engineered Components and Systems segment is a designer, manufacturer and assembler of system critical position and motion control systems, ropes, cables and umbilicals, and other customized industrial components to various vehicle, construction, agricultural and other niche markets.
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Hold (1.67 out of 4)
(ranked lower than approx. 60% of all stocks covered)
Based on Zacks ABR data;
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