MILWAUKEE, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Enerpac Tool Group Corp. (NYSE:EPAC) ("Enerpac" or the "Company") announced today that it completed the acquisition of Madrid, Spain-based DTA The Smart Move, S.A. ("DTA"), a global leader in the industrial heavy loads transportation industry, designing and manufacturing mobile robotic solutions. The purchase price is €24 million plus potential for a three-year earn-out tied to the achievement of certain financial objectives. The purchase price will be funded with a combination of cash on hand and borrowings from the Company's credit facility.

The acquisition of DTA advances Enerpac Tool Group's pure-play industrial tools and solutions strategy by adding automated on-site horizontal movement products to its Heavy Lifting Technology (HLT) portfolio and capitalizes on the trend towards greater automation in manufacturing and other industrial processes. DTA's products, technology, and capabilities will also expand Enerpac's solutions offerings in existing vertical markets, including rail, wind, infrastructure, aerospace, and nuclear. For fiscal 2025, DTA is expected to generate approximately €20 million in revenue and have a neutral effect on adjusted EPS, excluding one-time transaction costs and before accounting for synergies.

Paul Sternlieb, Enerpac Tool Group Corp. President and CEO, stated, "The addition of DTA's complementary expertise and on-site horizontal movement products to our product portfolio will allow us to serve a greater portion of customers' end-to-end activities. Moreover, we can leverage Enerpac's global sales and operational discipline to create value for our customers and shareholders. We are excited to grow our business through this strategic acquisition and welcome DTA's leadership and team to the Enerpac family."

Further information about Enerpac Tool Group's acquisition of DTA can be found at ir.enerpactoolgroup.com.

About Enerpac Tool Group

Enerpac Tool Group Corp. is a premier industrial tools, services, technology, and solutions provider serving a broad and diverse set of customers and end markets for mission-critical applications in more than 100 countries. The Company makes complex, often hazardous jobs possible safely and efficiently. Enerpac Tool Group'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 common stock trades on the NYSE under the symbol EPAC. For further information on Enerpac Tool Group and its businesses, visit the Company's website at www.enerpactoolgroup.com.

About DTA

Founded in 1972 as a family-owned business, DTA specializes in the design and manufacturing of self-propelled transporters for on-site transportation from one to 1,200 tons. Its transporters have been used in sectors such as wind, rail, shipbuilding, automotive, aerospace, steel mill and foundries, the port industry, and others. The company is headquartered in Madrid, Spain and sells into more than 50 countries worldwide. For further information on DTA, visit the company's website at www.dtaglobalservice.com.

Safe Harbor Statement

Certain of the above comments represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. In addition to statements with respect to guidance, the terms "outlook," "guidance," "may," "should," "could," "anticipate," "believe," "estimate," "expect," "objective," "plan," "project" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to inherent risks and uncertainties that may cause actual results or events to differ materially from those contemplated by such forward-looking statements. In addition to the assumptions and other factors referred to specifically in connection with such statements, risks and uncertainties that may cause actual results or events to differ materially from those contemplated by such forward-looking statements include, without limitation, general economic uncertainty, market conditions in the industrial, oil & gas, energy, power generation, infrastructure, commercial construction, truck and automotive industries, the impact of geopolitical activity, including the invasion of Ukraine by Russia and international sanctions imposed in response thereto, as well as the armed conflict involving Hamas and Israel, the ability of the Company to achieve its plans or objectives related to its growth strategy, market acceptance of existing and new products, market acceptance of price increases, successful integration of acquisitions, the impact of dispositions and restructurings, the ability of the Company to continue to achieve its objectives related to the ASCEND program, including any assumptions underlying its calculation of expected incremental operating profit or program investment, operating margin risk due to competitive pricing and operating efficiencies, supply chain risk, risks related to reliance on independent agents and distributors for the distribution and service of products, material, labor, or overhead cost increases, tax law changes, foreign currency risk, interest rate risk, commodity risk, tariffs, litigation matters, impairment of goodwill or other intangible assets, the Company's ability to access capital markets and other risks and uncertainties that may be referred to or noted in the Company's reports filed with the Securities and Exchange Commission from time to time, including those described in the Company's Form 10-K for the fiscal year ended August 31, 2023 and most recent report on Form 10-Q. 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.

Contact:

Travis Williams

Director of Investor Relations

262.293.1913