Global industrial and energy firm Actuant Corporation has bought Aberdeen-based energy services company Equalizer International.
Equalizer employs 35 people from its Bridge of Don base but also has offices in Houston in the US and Taiwan.
It supplies niche bolting tools, but also own a patent for a hot bolting technology called Extegrity, which is used as a structural repair system for flanged connections.
The Actuant deal, which saw Equalizer acquired by private shareholders, was for an undisclosed amount.
As of March 2016, Equalizer was owned by shareholders Morag Stephen, Robert Stephen, Iain McCormick and Jonathan Morgan.
US-based Actuant called it a “strategic acquisition” for its industrial tools business following the purchase of Mirage Machines from Acteon group for
£12 million.
The Mirage Machines acquisition was part of an exchange deal that also saw Actuant sell Viking Seatech to Acteon for nearly £9m.
Actuant said it was “committed to the Equalizer brand” and said it was giving its backing to the existing team.