Actuant Buys Brazilian Company
Actuant Corp. announced it has acquired Turotest, Brazilian manufacturer of instrument panels, gauges and senders. No financial details were provided.
Turotest, headquartered near Sao Paulo, Brazil, generates annual revenues of approximately $13 million and serves the Brazilian agriculture and industrial markets. Turotest will operate as part of the Maxima business within Actuant’s Engineered Solutions Segment.
“Turotest is a great addition to our Maxima business, serving the attractive agriculture market in Brazil,” said Bill Blackmore, executive vice president, Engineered Solutions. “We expect to leverage the strong technical capabilities and customer relationships of the combined businesses to further extend our reach into the growing agriculture, construction and mobile equipment markets in Latin America.”
Actuant is a diversified industrial company serving a broad array of niche markets including branded hydraulic and electrical tools and engineered position and motion control systems.