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Actuant Purchases Hayes Industries, Ltd
Actuant announced on May 30th that it has completed the acquisition of Hayes Industries, Ltd (“Hayes”) for approximately $31 million, plus potential future performance related consideration. Privately held Hayes, based in Sugar Land, Texas, generated approximately $25 million of sales in the most recent year and maintains a leading U.S. position in the concrete pre- and post-tensioning products market.
Complementing the Industrial segment’s existing Precision Sure-Lock business, Hayes' products include patented encapsulated anchor systems and wedges that are used in the residential, commercial, and public-works concrete construction and ground stabilization markets. Hayes also provides customized extruded cables for the energy and chemical markets.
The combination of Hayes Industries. Ltd and Precision Sure-Lock and will focus on leveraging each other’s best practices and strengths, while improving customer service and delivering the highest value. The combined teams will provide a seamless continuation of business for their combined customers. The joining of Hayes and Precision will provide advantages for industry partners by utilizing the capabilities and knowledge of both groups under one roof, as one team.