Actuant completes Viking SeaTech divestiture, Mirage Machines acquisition
Actuant Corporation announced it has completed the divestiture of the Viking SeaTech business to Acteon Group, a global subsea services business, and simultaneously acquired Mirage Machines, a provider of industrial and energy maintenance tools, from Acteon. The completion of the transactions follows receipt of all regulatory and other approvals. Total consideration for the previously announced transactions included proceeds of approximately $12M for Viking and payment of approximately $16M for Mirage, subject to final working capital adjustments. In addition, the company will record final impairment and divestiture charges in its fiscal 2018 second quarter financial results of approximately $15M-$20M.