MILWAUKEE (AP) — Actuant Corp., a maker of industrial tools and supplies, said Thursday it bought Templeton Kenly & Co. for $48 million in cash. The company used its revolving credit facility to fund the deal.
The Broadview, Ill.-based Templeton Kenly manufactures hydraulic pumps, mechanical jacks, wrenches and actuators under the brand names Simplex, Uni-Lift and Pow'r-Riser. The company has 120 employees and generated $33 million in revenue last year.
Actuant reported net income of $92.6 million on revenue of $1.20 billion in 2006.