Fourth quarter sales decreased 15.2 percent year-over-year.
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Robert Arzbaecher to return as president & CEO.
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Hayes' products will complement Actuant offerings in the industrial segment.
Growth due to improved activity in energy and engineered solutions segments.
The departure of Sheri Roberts has led to two executive changes.
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Core sales growth was driven by higher activity in the engineered solutions segment.
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Sentinel Capital Partners is paying $258 million.
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Actuant will sell the segment to Sentinel Capital Partners.
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Core sales declined 3 percent.
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Actuant paid $225 million for the offshore oil and gas equipment and services company.
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Industrial and energy segment sales increased, while engineered solutions segment sales declined.
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The sale of the division will allow Actuant to streamline its strategy, CEO says.
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Core sales for the industrial company fell 6 percent in the quarter.
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