The sale includes iPower-Packer, Elliott Manufacturing, Weasler Engineering, CrossControl, Maximatecc and Gits Manufacturing.
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Sales for the first six months were up slightly from the same period a year ago.
Jim Ferland succeeds Robert Peterson as head of companys board of directors.
Manufacturer initiates process to divest its Engineered Components & Systems business segment.
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Company reports double-digit gains in industrial tools business for fiscal first quarter 2019.
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Fourth-quarter sales of $301 million reflect strength in companys industrial and energy segments.
Barbara G. Bolens appointed VP of corporate strategy, investor relations and communications.
Sales rise in industrial and engineered solutions segments while energy segment sales fall.
Schmaling was most recently president, North America for Komatsu Mining Corporation.
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The company has also agreed to acquire Mirage from Acteon Group Limited.
Fourth quarter sales decreased 8.2 percent year-over-year.
