Actuant Acquires Scottish Company

Actuant Corporation announced Tuesday the company completed its acquisition of Viking SeaTech. 

Total consideration for the previously announced transaction was £150 million (approximately $225 million) which was funded from the company’s cash and revolving credit facility, according to an Actuant news release.

Headquartered in Aberdeen, Scotland, Viking is an offshore support specialist providing a comprehensive range of equipment and services to the offshore oil and gas industry, primarily in the North Sea and Australia. 

Actuant will be announcing its fiscal 2013 fourth quarter and full year financial results on Tuesday, Oct. 1, 2013 and will provide additional information at that time about Viking and its anticipated impact on future operating results.