<SEC-DOCUMENT>0001157523-19-002172.txt : 20191101
<SEC-HEADER>0001157523-19-002172.hdr.sgml : 20191101
<ACCEPTANCE-DATETIME>20191101113451
ACCESSION NUMBER:		0001157523-19-002172
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20191031
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20191101
DATE AS OF CHANGE:		20191101

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ACTUANT CORP
		CENTRAL INDEX KEY:			0000006955
		STANDARD INDUSTRIAL CLASSIFICATION:	MISC INDUSTRIAL & COMMERCIAL MACHINERY & EQUIPMENT [3590]
		IRS NUMBER:				390168610
		STATE OF INCORPORATION:			WI
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11288
		FILM NUMBER:		191185821

	BUSINESS ADDRESS:	
		STREET 1:		ATTN:  BRYAN JOHNSON
		STREET 2:		N86 W12500 WESTBROOK CROSSING
		CITY:			MENOMONEE FALLS
		STATE:			WI
		ZIP:			53051
		BUSINESS PHONE:		262-293-1697

	MAIL ADDRESS:	
		STREET 1:		ATTN:  BRYAN JOHNSON
		STREET 2:		N86 W12500 WESTBROOK CROSSING
		CITY:			MENOMONEE FALLS
		STATE:			WI
		ZIP:			53051

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	APPLIED POWER INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	APPLIED POWER INDUSTRIES INC
		DATE OF NAME CHANGE:	19730123
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a52120614.htm
<DESCRIPTION>ACTUANT CORP. 8-K
<TEXT>
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    <div style="text-align: center; font-weight: bold; font-size: 16pt;">UNITED STATES</div>
    <font style="font-size: 16pt;"> </font>
    <div style="text-align: center; font-weight: bold; font-size: 16pt;">SECURITIES AND EXCHANGE COMMISSION</div>
    <font style="font-size: 12pt;"> </font>
    <div style="text-align: center; font-weight: bold; font-size: 12pt;">Washington, D.C. 20549</div>
    <div>&#160;</div>
    <font style="font-size: 16pt;"> </font>
    <div style="text-align: center; font-weight: bold; font-size: 16pt;">FORM 8-K</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold; font-size: 12pt;">CURRENT REPORT</div>
    <font style="font-size: 12pt;"> </font>
    <div style="text-align: center; font-weight: bold; font-size: 12pt;">PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</div>
    <div>&#160;</div>
    <div style="text-align: center;">Date of Report (date of earliest event reported): October 31, 2019</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold; font-size: 16pt;">ACTUANT CORPORATION</div>
    <div style="text-align: center;">(Exact name of Registrant, as specified in its charter)</div>
    <div style="text-align: center;">&#160;</div>
    <div style="text-align: center;">&#160;</div>
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            <div style="text-align: center;">Wisconsin</div>
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            <div style="text-align: center;">1-11288</div>
          </td>
          <td style="width: 33.33%; vertical-align: bottom;">
            <div style="text-align: center;">39-0168610</div>
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            <div style="text-align: center;">(State or other jurisdiction of incorporation)</div>
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          <td style="width: 33.33%; vertical-align: bottom;">
            <div style="text-align: center;">(Commission File Number)</div>
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          <td style="width: 33.33%; vertical-align: bottom;">
            <div style="text-align: center;">(I.R.S. Employer Identification Number)</div>
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    <div>&#160;</div>
    <div style="text-align: center;">N86 W12500 WESTBROOK CROSSING</div>
    <div style="text-align: center;">MENOMONEE FALLS, WISCONSIN 53051</div>
    <div style="text-align: center;">&#160;</div>
    <div style="text-align: center;">Mailing address: P.O. Box 3241, Milwaukee, Wisconsin 53201</div>
    <div style="text-align: center;">(Address of principal executive offices) (Zip code)</div>
    <div style="text-align: center;">&#160;</div>
    <div style="text-align: center;">Registrant&#8217;s telephone number, including area code: (262) 293-1500</div>
    <div style="text-align: center;">&#160;</div>
    <div style="text-align: center;">Former name or address, if changed since last report: Not applicable</div>
    <div style="text-align: center;">&#160;</div>
    <div style="text-align: center;">&#160;</div>
    <div style="margin-top: 6pt; margin-bottom: 6pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.
      below):</div>
    <div style="margin-bottom: 6.75pt;">&#9744;&#160; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
    <div style="margin-bottom: 6.75pt;">&#9744;&#160; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
    <div style="margin-bottom: 6.75pt;">&#9744;&#160; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
    <div style="margin-bottom: 1.5pt;">&#9744;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
    <div style="margin-bottom: 1.5pt;"><br>
    </div>
    <div style="text-indent: 13.5pt; margin-bottom: 5pt;">&#160;Securities registered pursuant to Section 12(b) of the Act:</div>
    <div><br>
    </div>
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            <div>
              <div style="text-align: center; font-weight: bold;">Title of each class</div>
            </div>
          </td>
          <td colspan="1" style="width: 1%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
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              <div style="text-align: center; font-weight: bold;">Trading Symbol(s)</div>
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          <td colspan="1" style="width: 1%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 36%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
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              <div style="text-align: center; font-weight: bold;">Name of each exchange on which registered</div>
            </div>
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            <div>Class A Common Stock, par value $0.20 per share</div>
          </td>
          <td colspan="1" style="width: 1%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: center;">EPAC</div>
          </td>
          <td colspan="1" style="width: 1%; vertical-align: top;">&#160;</td>
          <td style="width: 36%; vertical-align: top;">
            <div style="text-align: center;">New York Stock Exchange</div>
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    <div style="margin-bottom: 1.5pt;"><br>
    </div>
    <div style="margin-bottom: 1.5pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
      (&#167;240.12b-2 of this chapter).</div>
    <div style="text-align: right; text-indent: 324pt; margin-bottom: 1.5pt;">Emerging growth company &#9744;</div>
    <div style="margin-bottom: 1.5pt;">&#160;</div>
    <div style="margin-bottom: 12pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act. &#9744;</div>
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    <div><font style="font-weight: bold;">Item 2.01.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Completion of Acquisition or Disposition of Assets.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">On October 31, 2019, Actuant Corporation, which has adopted the business name &#8220;Enerpac Tool Group&#8221; pending approval of a change in its legal corporate name (the &#8220;Company&#8221;), completed the previously
      announced sale of its Engineered Components &amp; Systems segment (excluding the Company&#8217;s Cortland U.S. business) (the &#8220;Business&#8221;) to wholly owned subsidiaries of BRWS Parent LLC, a Delaware limited liability company (&#8220;Buyer&#8221;) and affiliate of One
      Rock Capital Partners II, LP, pursuant to the Securities Purchase Agreement (the &#8220;Purchase Agreement&#8221;), dated July 8, 2019, by and among the Company, Actuant France SAS, a company organized under the laws of France, Actuant Holdings AB, a company
      organized under the laws of Sweden, and Buyer, for an aggregate purchase price of approximately $214.5 million (of which approximately $3.0 million will be paid in four quarterly installments after the date hereof), subject to certain adjustments as
      set forth in the Purchase Agreement (the &#8220;Transaction&#8221;).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">The foregoing description of the Purchase Agreement and the transactions contemplated thereby, including the sale of the Business, is included to provide you with information regarding its terms. It
      does not purport to be a complete description and is qualified in its entirety by reference to the full text of the Purchase Agreement, a copy of which was filed by the Company as <u>Exhibit 2.1</u> to the Company&#8217;s Current Report on Form 8-K filed
      on July 9, 2019, the full text of which is incorporated herein by reference.</div>
    <div><br>
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    <div><font style="font-weight: bold;">Item 8.01.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Other Events.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">On October 31, 2019, the Company issued a press release announcing the completion of the Transaction. A copy of the press release is filed as <u>Exhibit 99.1</u> to this Current Report on Form 8-K
      and is incorporated by reference herein.</div>
    <div><br>
    </div>
    <div><font style="font-weight: bold;">Item 9.01.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Financial Statements and Exhibits.</font></div>
    <div>&#160;</div>
    <div>(b) <font style="font-style: italic;">Pro Forma Financial Information:</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">No pro forma financial statements reflecting the impact of the Transaction are provided in this report, as the Business disposed of in the Transaction was classified as a discontinued operation in
      the Company&#8217;s consolidated statement of operations for the fiscal year ended August 31, 2019 included in its Form 10-K for the fiscal year ended August 31, 2019, and the assets and liabilities of the Business were reflected as &#8220;assets from
      discontinued operations&#8221; and &#8220;liabilities from discontinued operations&#8221;, respectively, in the Company&#8217;s consolidated balance sheet as of August 31, 2019 included in such Form 10-K.</div>
    <div><br>
    </div>
    <div>(d) <font style="font-style: italic;">Exhibits:</font></div>
    <div>&#160;</div>
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            <div style="text-align: justify; font-weight: bold;">Exhibit No.</div>
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          <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; font-weight: bold;">Description</div>
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            <div><a href="http://www.sec.gov/Archives/edgar/data/6955/000115752319001508/a52010160ex2_1.htm">2.1</a></div>
          </td>
          <td style="width: 2.2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">
            <div><a href="http://www.sec.gov/Archives/edgar/data/6955/000115752319001508/a52010160ex2_1.htm">Securities Purchase Agreement dated as of July 8, 2019, by and between the Company, BRWS Parent LLC, Actuant France SAS and Actuant Holding AB
                (incorporated by reference to Exhibit 2.1 to the Registrant&#8217;s Current Report on Form 8-K filed on July 9, 2019 (File no. 001-11288))</a></div>
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            <div><a href="a52120614ex99_1.htm">99.1</a></div>
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          <td style="width: 2.2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">
            <div><a href="a52120614ex99_1.htm">Press Release issued by the Company on October 31, 2019</a></div>
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    <div style="font-weight: bold;"> <br>
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    <div style="text-align: center; font-weight: bold;">SIGNATURES</div>
    <div>&#160;</div>
    <div style="text-indent: 36pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>
    <div style="text-indent: 36pt;"> <br>
    </div>
    <div style="text-indent: 36pt;"> <br>
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            <div>ACTUANT CORPORATION</div>
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            <div>Date: October 31, 2019</div>
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          <td style="width: 50%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 50%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>/s/ Fabrizio Rasetti</div>
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          <td style="width: 50%; vertical-align: bottom;">
            <div>Fabrizio Rasetti</div>
            <div>Executive Vice President, General Counsel and Secretary</div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a52120614ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 99.1</font><br>
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    <div class="bw-release">
      <h1 style="text-align: center; list-style-position:inside;FONT-SIZE: 14pt;"> <b>Enerpac Tool Group Becomes Premier Pure Play Industrial Tools and Services Company</b> </h1>
      <div class="bw-release-subhead">
        <p style="text-align: center; list-style-position:inside;"><b> <i>Completes Sale of EC&amp;S Segment to One Rock Capital Partners</i> </b></p>
      </div>
      <div class="bw-release-body">
        <div class="bw-release-table-js bw-release-story">
          <p>MILWAUKEE--(BUSINESS WIRE)--October 31, 2019--Enerpac Tool Group (NYSE: EPAC) announced today that the Company is now a premier pure play industrial tools &amp; services company following the completed sale of the Engineered Components &amp;
            Systems (&#8220;EC&amp;S&#8221;) segment to an affiliate of One Rock Capital Partners, LLC (&#8220;One Rock&#8221;). </p>
          <p> Enerpac Tool Group is a global leader in high pressure hydraulic tools, controlled force products and solutions for precise positioning of heavy loads. The Company is well-positioned for future growth and has a sustainable business model with
            well-recognized brands, robust global distribution and broad reach of end markets. </p>
          <p> Randy Baker, President and Chief Executive Officer of Enerpac Tool Group, said, &#8220;We are excited about the future of Enerpac Tool Group and pleased to deliver on our objective of transforming into a premier pure play industrial tools and
            services company. Enerpac&#8217;s high-quality brand and strong financial position create a solid platform to drive growth and deliver value to our shareholders. We appreciate the hard work and contributions of our EC&amp;S colleagues and wish them
            the best as they move forward under new ownership.&#8221; </p>
          <p> Baird served as Enerpac Tool Group&#8217;s financial advisor on the transaction and Latham &amp; Watkins LLP was its legal counsel. </p>
          <p> <b>About Enerpac Tool Group</b> </p>
          <p> Enerpac Tool Group is a premier industrial tools and services company serving a broad and diverse set of customers in more than 90 countries. The Company&#8217;s businesses are global leaders in high pressure hydraulic tools, controlled force
            products and solutions for precise positioning of heavy loads that help customers safely and reliably tackle some of the most challenging jobs around the world. The Company was founded in 1910 and is headquartered in Menomonee Falls, Wisconsin.
            Enerpac Tool Group trades on NYSE under the symbol EPAC. Although the Company has adopted &#8220;Enerpac Tool Group&#8221; as its doing-business name, its legal name continues to be Actuant Corporation until the change is approved by its shareholders. For
            further information on Enerpac Tool Group and its businesses, visit the Company's website at <u>www.enerpactoolgroup.com</u>. </p>
          <p> <b>About One Rock Capital Partners, LLC</b> </p>
          <p> One Rock makes controlling investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select
            industries. The involvement of these Operating Partners affords One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with
            company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and its profitability to enhance long-term value. For more information, visit www.onerockcapital.com. </p>
          <div> </div>
          <p> <b><u>Safe Harbor Statement</u></b> </p>
          <p> Certain of the above comments represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. Management cautions that these statements are based on current estimates of future
            performance and are highly dependent upon a variety of factors, which could cause actual results to differ from these estimates. Among other risks and factors, Enerpac Tool Group&#8217;s results are subject to general economic conditions, variation
            in demand from customers, the impact of geopolitical activity on the economy, continued market acceptance of the Company&#8217;s new product introductions, the successful integration of acquisitions, restructuring, operating margin risk due to
            competitive pricing and operating efficiencies, supply chain risk, material and labor cost increases, tax reform, foreign currency fluctuations and interest rate risk. See Actuant Corporation&#8217;s Form 10-K for the fiscal year ended August 31,
            2019 filed with the Securities and Exchange Commission for further information regarding risk factors. Enerpac Tool Group disclaims any obligation to publicly update or revise any forward-looking statements as a result of new information,
            future events or any other reason. </p>
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        <div class="bw-release-contact">
          <h2 style="FONT-SIZE: 14pt;">Contacts</h2>
          <p> <b>Contacts </b><br>
            <b><i>For Enerpac Tool Group &#8211; Investors </i></b><br>
            Barb Bolens <br>
            EVP and Chief Strategy Officer <br>
            262-293-1562 <br>
          </p>
          <p> <b><i>For Enerpac Tool Group &#8211; Media </i></b><br>
            Nick Lamplough / Aaron Palash <br>
            Joele Frank, Wilkinson Brimmer Katcher <br>
            212-355-4449 <br>
          </p>
          <p> <b><i>For One Rock </i></b><br>
            Alex Jeffrey/Sam Fisher <br>
            Gasthalter &amp; Co. <br>
            (212) 257-4170 </p>
        </div>
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