About Enerpac Tool Group

Enerpac Tool Group Corp. operates as a premier industrial tools, services, technology, and solutions company serving a broad and diverse set of customers in more than 100 countries. The company is global leader of high pressure hydraulic tools, controlled force products, and solutions for precise positioning of heavy loads that help customers around the world safely, reliably, and efficiently tackle some of the most challenging, complex, and often hazardous jobs. The company's businesses provide an array of products and services across multiple markets and geographies, which results in significant diversification. Business Industrial Tools & Services (IT&S) The company primarily engages in the design, manufacture, and distribution of branded hydraulic and mechanical tools and in providing services and tool rental. IT&S is a global supplier of both products and services to a broad array of end markets, including infrastructure, industrial maintenance, repair and operations, oil and gas, mining, alternative and renewable energy, and civil construction markets. The company's primary products include branded tools, cylinders, pumps, hydraulic torque wrenches, and highly engineered heavy lifting technology solutions. Examples of its products include high-force hydraulic and mechanical tools (cylinders, pumps, valves, bolt tensioners, specialty tools, and other miscellaneous products), which are designed to allow users to apply controlled force and motion to increase productivity, and make work safer and easier to perform. These tools operate at very high pressures of approximately 5,000 to 12,000 pounds per square inch. With the company's products used in a wide variety of end markets, they are often deployed in harsh operating conditions, such as machining, infrastructure maintenance and repair, and oil and gas production, where safety is a key differentiator. On the services side of the segment, the company's highly trained technicians provide maintenance and manpower services on customer assets to meet their specific needs, including bolting, machining, and joint integrity. The company also provides rental services for certain of its products. The company's branded tools and services are primarily marketed through the Enerpac, Hydratight, Larzep, and Simplex brand names. The segment delivers products and services primarily through its world-class, global network of distributors, as well as direct sales to OEMs and select end users. Examples of industrial distributors include W.W. Grainger, MSC and Blackwoods. International Business The company's products and services are generally available globally, with its principal markets outside the United States being Europe, the Middle East, and Asia. The company has operations around the world. Seasonality While the company typically experiences a stronger second half to its fiscal year (year ended August 31, 2023), its consolidated sales are not subject to significant seasonal fluctuations. Research and Development The company's research and development costs were $9 million in the year ended August 31, 2023. Divestiture On July 11, 2023, the company completed the sale of the Cortland Industrial business, which had been included in the Other operating segment. History The company, a Wisconsin corporation, was founded in 1910. It was incorporated in 1910. The company was formerly known as Actuant Corporation and changed its name to Enerpac Tool Group Corp. in 2020.