Enerpac closes $472M SFE Group acquisition; 10.6x EBITDA, accretive to FY2027 EPS

ENERPAC TOOL GROUP CORP

Purchase price ~$472M: ~$452M cash plus $20M of equity awards granted in lieu of transaction bonuses; seller was SFEG Holdings, a Gladstone Investment portfolio company.
SFE Group posted ~$170M sales and ~$44M adjusted EBITDA for the trailing twelve months ended March 31, 2026; deal priced at 10.6x, or 9.5x with $4M-$6M of year-three synergies.
Funded with cash on hand, an expanded $300M term loan and a new $550M revolver under an $850M five-year facility closed Oct. 16, 2026; pro forma net leverage ~2.3x.
Expect ~$8M transaction costs and $10M-$14M integration costs; $21.2M of inducement awards to 14 SFE senior employees, $20.0M of it replacing Gladstone-paid bonuses.
Three SFE executives must use ~$10.9M of merger cash to buy EPAC shares in the open market within 15 trading days post-close, locked up through the third anniversary.

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