Enerpac moves global headquarters to downtown Milwaukee

Enerpac Tool Group announced Tuesday it will move its corporate headquarters to a 56,000-square-foot space at 648 N. Plankinton Avenue in downtown Milwaukee. The company will move around 130 employees from its Menomonee Falls location and settle in late 2024 or early 2025 after renovations.

The company will move to the fourth floor of the ASQ Center building, of which the naming rights will go to Enerpac, company officials said. The fourth floor of the “Enerpac Center” will be remodeled to fit incoming employees.

“Enerpac Tool Group is making a great choice for the location of its global headquarters,” said Cavalier Johnson, mayor of Milwaukee, in a statement. “Milwaukee continues to be an attractive place for growing companies with our amenities, our activities, and our concentration of vibrant businesses. My administration looks forward to working with all companies looking to relocate here.”

“We are incredibly excited about this move, as the new space will better accommodate our local workforce and enable Enerpac to better retain and attract top local talent,” said Paul Sternlieb, president and CEO of Enerpac Tool Group. “Our new global headquarters will offer a dynamic and inspiring workplace to spur strong collaboration and drive innovation. I’m excited for our company’s headquarters to take this prominent location in our community.”

The ASQ Center was a former Gimbel’s Department Store and converted to mixed-use commercial development in the early 2000s, officials said. The building has more than 400 feet of frontage along the Milwaukee River and Riverwalk access.

The headquarters will join the same neighborhood as other retail, dining and corporate locations, including Fiserv and Milwaukee Tool.

The owners of the former Enerpac headquarters in Menomonee Falls will look for new occupants, a company spokesperson said.

Enerpac Tool Group has 2,100 employees globally and with 130 based in the metro Milwaukee area, officials said. Local positions cover company management, engineering, finance, information technology, human resources and other roles that support Enerpac’s global industrial tools and services business.