Hydrospex has been acquired along with Singapore-based engineering firm Team Hydrotec, which provides systems to the Asian energy, ship-building, mining and other industries. Hydrospex and Team Hydrotec will be integrated into Actuant’s Enerpac Integrated Solutions business, part of Actuant’s industrial segment. The combined businesses are expected to generate around $30m in annual revenue.

Brian Kobylinski, executive vice president, energy and industrial segments, Actuant, said: “We recently created a global organisation within Enerpac to further our focus on integrated solutions, the combining of our world class hydraulic technology with extensive controls and engineering expertise.

“The products, technologies, engineering and geographic breadth of Team Hydrotec and Hydrospex are complementary to our existing competencies and will further strengthen our market leading heavy-lift solutions for the global infrastructure and other markets.”

Tjerko Jurgens, Hydrospex’s managing director, told Cranes Today that the takeover will allow Hydrospex to use Enerpac’s global sales and support network to further its business.

“We see this as a major step forward to continuing our growth in the heavy-lift industry,” Jurgens said.

“Enerpac already owned two production facilities in the Netherlands, and the integration of Hydrospex and these two companies provides us with an extensive capacity increase which was very necessary.”