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Actuant to build new HQ in Menomonee Falls
Published August 20, 2009 - BizTimes Daily
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Butler-based Actuant Corp. today announced plans to consolidate several of its operations into a new campus in the Westbrook Corporate Center, located near the intersection of Main Street and 124th Street in Menomonee Falls.
The company said the $15 million project will retain its 650 Wisconsin jobs and will result in the creation of as many as 140 new professional, administrative and distribution jobs.
Actuant is acquiring an existing building and land to construct a new building for its new headquarters campus. The newly acquired building at 12545 W. Westbrook Crossing will house the operations of three Actuant electrical businesses, including a distribution center, in one facility, in addition to the Electrical segment headquarters.
The businesses will begin moving into the facility in early 2010. The other planned building, which will not be completed until early 2011, will consolidate the support functions of several of Actuant's Industrial, Energy and Engineered Solutions segment businesses, as well as corporate functions including executive, finance, human resources, lead office and other corporate staff.
In addition, Actuant will create a global training center in its headquarters to support the training and development needs of its 6,000 employees worldwide.
Actuant currently operates seven separate buildings in both Glendale and Butler. The new facility will help the company gain operating efficiencies and will incorporate energy efficient technology to reduce operating costs, the company said.
"This is a logical expansion for Actuant as we seek to gain efficiencies by consolidating our North American electrical businesses and several business unit and administrative operations," said Robert Arzbaecher, Actuant chairman and chief executive officer. "We are proud to make this commitment to continue to grow our business in southeast Wisconsin as our roots in the Milwaukee area go back almost 100 years. We are pleased with the support we received from both the State of Wisconsin and the Village of Menomonee Falls to expand here and retain and create more jobs in the community."
The Wisconsin Department of Commerce is providing a $1.5 million forgivable loan and $1.75 million in tax credits for the Actuant project.
"I am pleased the state is partnering with Acutant Corp. to create and retain jobs and invest in the future of the Menomonee Falls community," Gov. Jim Doyle said. "We look forward to working with this major employer as they grow here in Wisconsin."
In addition, the company will receive about $3 million in incentives, in the form of property tax relief, from the Village of Menomonee Falls.
Actuant is a diversified industrial company with operations in more than 30 countries. The Actuant businesses include hydraulic and electrical tools and supplies, umbilical, rope and cable solutions as well as highly engineered position and motion control systems. The company had sales of $1.66 billion in fiscal 2008
Actuant purchased the 1750,000-square foot building in Menomonee Falls from Sheboygan Falls-based Bemis Manufacturing Co., which moved operations out of the building several months ago.
Kurt Van Dyke and Pete Slezak of Colliers Barry represented Bemis in brokering the building sale. They declined to disclose the sale price, but said the asking price for the property was $9.3 million.
"This is the largest industrial property sale, at least for a user deal, in southeastern Wisconsin in 2009," said James T. Barry III, president and CEO of Colliers Barry.
