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Actuant purchasing Mastervolt for $149.2 million

MILWAUKEE (AP) — Butler, Wis.-based Actuant Corp. is buying power electronics developer and supplier Mastervolt for $149.2 million, giving it a bigger presence in the solar product market.

The diversified industrial company said Tuesday that it will pay for the deal with cash on hand and a revolving credit agreement.

The acquisition is expected to close within 30 days.

Privately held Mastervolt, based in Amsterdam, derives two-thirds of its revenue from its solar product line.

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