Engineered Components plans ABL facility with buyout by One Rock

By Sara Rosenberg

New York, July 9 – Engineered Components & Systems has received a commitment for an ABL facility from PNC Bank to help fund its acquisition by One Rock Capital Partners LLC, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

The company is being bought from Actuant Corp. for about $214.5 million, with roughly $3 million to be paid in four quarterly installments after closing.

Closing is expected during the fourth quarter, subject to customary regulatory and other approvals.

The businesses being sold to One Rock from the segment are Power-Packer, Elliott Manufacturing, Weasler Engineering, CrossControl, Maximatecc and Gits Manufacturing.

Engineered Components is a Menomonee Falls, Wis.-based provider of motion, actuation and control solutions to agriculture, specialty and commercial vehicle, construction and other industrial end-markets.

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