WASHINGTON (dpa-AFX) - Actuant Corp. (ATU) said Monday that it has completed the sale of its Recreational Vehicle business to Drew Industries Inc. (DW).
Actuant's Recreational Vehicle business, included within the Engineered Solutions segment, designs and manufactures motorhome leveling and room slide-out systems, and retractable steps, predominately under the PowerGear and Kwikee brand names. The business has annual revenues of about $30 million.
Total cash proceeds approximated $35 million and Actuant expects to record an aggregate net gain on the divestiture.
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