Enerpac Tool Group announced Wednesday that it has completed its acquisition of SFE Group.
The Milwaukee-based industrial tool maker originally announced its agreement to acquire Houston-based SFE in July; SFE produces fabrication, welding, portable machining and material handling equipment under 12 brands, including Climax, B&B Sumner and Axxair.
The deal was valued at about $472 million.
“SFE Group is an exceptional business with premium brands, strong margins, complementary products, and a proven track record of growth,” Enerpac President and CEO Paul Sternlieb said in a statement Wednesday. “The combination expands our addressable market and strengthens our capabilities in several attractive industrial applications.”
“Enerpac’s global reach, technical capabilities and operational resources provide a strong platform for our continued growth,” added SFE President Vinay Varma.
