M&A Deal Summary

Enerpac Tool Group Acquires The Cortland Companies

On September 17, 2008, Enerpac Tool Group acquired manufacturer The Cortland Companies from Cortec Group for 230M USD

Acquisition Highlights
  • This is Enerpac Tool Group’s 5th transaction in the Manufacturing sector.
  • This is Enerpac Tool Group’s 2nd largest (disclosed) transaction.
  • This is Enerpac Tool Group’s 9th transaction in the United States.
  • This is Enerpac Tool Group’s 2nd transaction in New York.

M&A Deal Summary
Date 2008-09-17
Target The Cortland Companies
Sector Manufacturing
Buyer(s) Enerpac Tool Group
Sellers(s) Cortec Group
Deal Type Add-on Acquisition
Deal Value 230M USD

Target

The Cortland Companies

Cortland, New York, United States
website
The Cortland Companies, Inc. is a manufacturer of electro-mechanical cables, umbilicals, tethers, and high-performance synthetic ropes. Cortland's products are used in a wide variety of industries including oil and gas, government, heavy marine, medical, utility and oceanographic markets with customers located throughout the world.

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Buyer(S) 1

Buyer

Enerpac Tool Group

Menomonee Falls, Wisconsin, United States

website

Category Company
Founded 1910
Sector Machinery
Employees2,200
Revenue 571M USD (2022)
DESCRIPTION
Entrance to Actuant's corporate headquarters in Menomonee Falls, Wisconsin.
Entrance to Actuant's corporate headquarters in Menomonee Falls, Wisconsin.

Enerpac Tool Group is a premier industrial tools and services company serving a broad and diverse set of customers in more than 90 countries. Enerpac Tool Group businesses are in high-pressure hydraulic tools, controlled force products and solutions for precise positioning of heavy loads that help customers safely and reliably tackle some of the most challenging jobs around the world. Enerpac Tool Group was founded in 1910 and is based in Menomonee Falls, Wisconsin.

DEAL STATS #
Overall 18 of 28
Sector (Manufacturing) 5 of 5
Type (Add-on Acquisition) 17 of 25
State (New York) 2 of 2
Country (United States) 9 of 11
Year (2008) 2 of 2
Size (of disclosed) 2 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-01 Fibron

Hoddesdon, United Kingdom

Fibron specializes in umbilical cables and other subsea specialty cables manufacturing primarily utilized by offshore oil and gas, renewables, ROV, defense, and diving sectors. The company has considerable in-house design expertise and manufacturing facilities capable of producing a broad range of products. Its track record ensures the provision of cable or umbilical solutions for most situations, and expertise and experience in this field of operation. Fibron was founded in 1987 and is based out of Hoddesdon, North of London, UK.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-30 Mastervolt BV

Amsterdam, Netherlands

Mastervolt is a designer, developer and global supplier of highly innovative, branded power electronics. Its products provide the technology associated with the efficient conversion, control, storage and conditioning of power and are utilized in various end markets including solar photovoltaic (PV), marine and specialty vehicles.

Buy €115M

Seller(S) 1

SELLER

Cortec Group

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1984
PE ASSETS 4.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Cortec Group, Inc. is a private equity firm focused on acquiring mid-sized businesses operating in basic industries. Cortec Group is an experienced and knowledgeable investor in healthcare products and services, B2C and B2B products, value-added distribution (including eCommerce), and specialty services companies with revenues of $40-$300 million and EBITDA of $7 to $35+ million. The Cortec Group was formed in 1984 and is based in New York City.

DEAL STATS #
Overall 16 of 35
Sector (Manufacturing) 6 of 7
Type (Add-on Acquisition) 6 of 9
State (New York) 3 of 4
Country (United States) 16 of 34
Year (2008) 2 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-17 Snyder Industries

Lincoln, Nebraska, United States

Snyder Industries, Inc. is a manufacturer of rotationally molded containers including storage and transportation tanks, intermediate bulk containers and residential septic tanks. The company’s primary end markets are agricultural, industrial, food and residential applications. Snyder operates molding facilities in Nebraska, California, Arkansas and West Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-09-16 180 Medical

Oklahoma City, Oklahoma, United States

180 Medical is a leading distributor of disposable, single-use (intermittent) urologic catheters to over 10,000 customers in the home setting. The Company stocks a comprehensive inventory of over 500 types of urologic catheters and ships directly to patients to suit the individual needs of its diverse customer base, including those with spinal cord injuries, spina bifida, multiple sclerosis and other conditions causing incontinence.

Buy $321M
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