Actuant purchases Mastervolt for $150 million

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Actuant Corp., the parent company of Marinco Electrical Group, signed a definitive agreement to acquire the stock of Mastervolt.

Total consideration for the transaction is about $150 million, which will be funded from the company's cash and revolving credit facility. Mastervolt generated about $110 million in revenue in the last 12 months.

Based in Amsterdam, privately held Mastervolt is a designer, developer and global supplier of innovative branded power electronics. Its products provide the technology associated with the efficient conversion, control, storage and conditioning of power and are utilized in end markets that include solar photovoltaic, marine and specialty vehicles.

"Mastervolt represents a great addition to Actuant's electrical segment, repositioning it toward higher growth and product technology," Actuant CEO Robert Arzbaecher said in a statement. "Its focus on innovation, strong management team and asset-light operating model are an ideal fit with Actuant."

Butler, Wis.-based Actuant is a diversified industrial company with operations in more than 30 countries.

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