MILWAUKEE - Enerpac Tool Group Corp. (NYSE: NYSE:EPAC), a global provider of industrial tools and solutions, announced the appointment of Darren M. Kozik as its new Executive Vice President and Chief Financial Officer, effective October 28, 2024. Kozik will oversee the finance and IT departments and join the executive leadership team, reporting to Paul Sternlieb, President & CEO.
Kozik transitions to Enerpac Tool Group from ManpowerGroup (NYSE:MAN), where he served as Senior Vice President of Global Corporate Finance. His 25-year finance career includes key roles at General Electric (NYSE:GE) and as CFO of Mortara Instrument, followed by a stint as VP & General Manager overseeing the business.
Enerpac Tool Group's CEO, Paul Sternlieb, expressed confidence in Kozik's ability to contribute to the company's growth strategy, citing his extensive experience in finance. Kozik himself remarked on the exciting growth phase Enerpac Tool Group is experiencing and his enthusiasm for joining the team.
The company, which was founded in 1910 and is headquartered in Menomonee Falls, Wisconsin, specializes in high-pressure hydraulic tools and controlled force products. It serves a wide range of customers and end markets in over 100 countries, focusing on safe and efficient solutions for challenging jobs.
This strategic move comes as Enerpac Tool Group continues to position itself as a leader in the industrial tools market. The information about this executive change is based on a press release statement from Enerpac Tool Group.
"In other recent news, Enerpac Tool Group has completed the acquisition of DTA The Smart Move, a Spanish robotics firm specializing in heavy industrial load transportation. This strategic acquisition aligns with the push towards increased industrial automation and is expected to enhance Enerpac's Heavy Lifting Technology portfolio. In fiscal 2025, DTA is projected to generate around €20 million in revenue, with a neutral impact on Enerpac's adjusted earnings per share, excluding one-time transaction costs and before synergy accounting.
Simultaneously, Enerpac Tool Group has declared an annual cash dividend for its Class A common stock, with shareholders set to receive $0.04 per share. Despite regional challenges, the company reported modest organic revenue growth in the third quarter of fiscal 2024, largely driven by a significant increase in e-commerce revenue and the successful launch of a new e-commerce site in Europe.
In another recent development, Enerpac Tool Group has appointed Eric Chack as its new Executive Vice President of Operations, tasked with enhancing the company's operational efficiency and competitive edge. During the earnings call, the company confirmed a full-year organic revenue growth projection of 2-3% and an adjusted EBITDA of $147-150 million. Despite revenue decline in the Americas and challenges in the Asia-Pacific region, the company maintains a 6-7% organic revenue CAGR growth projection through fiscal '26, demonstrating its strategic adaptability amidst market challenges."
InvestingPro Insights
As Enerpac Tool Group Corp. (NYSE: EPAC) welcomes Darren M. Kozik as its new CFO, recent financial data from InvestingPro sheds light on the company's robust performance and market position.
EPAC's impressive gross profit margin of 51.37% for the last twelve months as of Q3 2024 underscores the company's efficiency in manufacturing and pricing its industrial tools. This aligns with an InvestingPro Tip highlighting EPAC's "impressive gross profit margins," suggesting that Kozik will be stepping into a financially healthy organization.
The company's strong financial health is further evidenced by its operating income margin of 22.95% over the same period. This solid profitability metric indicates that EPAC is effectively managing its operational costs, which could provide a stable foundation for the new CFO to build upon.
InvestingPro Tips also reveal that EPAC has maintained dividend payments for 20 consecutive years, demonstrating a commitment to shareholder returns that aligns with its long-term stability. This track record could be an important factor for Kozik to consider as he takes on his new role overseeing the company's finances.
Moreover, EPAC's stock has shown remarkable performance, with a 69.7% total return over the past year. This significant growth suggests that investors have been responding positively to the company's strategic direction and financial management.
For readers interested in a deeper dive into EPAC's financial health and market position, InvestingPro offers 15 additional tips that could provide valuable insights for investment decisions.
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