Actuant closes $17 million acquisition of Selantic

Actuant completes $17M purchase of Selantic

MILWAUKEE — Industrial products maker Actuant Corp. said Friday that it has completed its $17 million acquisition of the Norwegian company Selantic AS.

Selantic, based in Bergen, Norway, makes high performance slings, tethers and other products for heavy lifting applications. It has annual revenue of $10 million.

Actuant said the unit will be part of Cortland in Actuant’s energy segment.

Actuant shares rose 12 cents to $20.01.