Actuant to draw on existing credit facility to purchase Mastervolt

By Sara Rosenberg

New York, Nov. 30 - Actuant Corp. plans on using borrowings under its revolving credit facility, along with cash on hand, to fund the approximately €115 million acquisition of Mastervolt, according to a news release.

The transaction is expected to close within 30 days, subject to customary regulatory approvals and conditions.

Actuant is a Butler, Wis.-based diversified industrial company. Mastervolt is an Amsterdam-based designer, developer and supplier of power electronics.

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