Enerpac Tool Group Corp. has signed a new credit agreement worth $850 million, replacing its 2022 facility. The deal, finalised on October 16, 2026, combines a $550 million revolving credit line and a $300 million term loan, both maturing on October 16, 2031. The Milwaukee-based industrial tools maker will use initial borrowings to repay debt under the old facility and cover fees. The previous deal included a $625 million revolver and a $200 million term loan due September 9, 2027. PNC Bank, National Association is administrative agent. Borrowings start at term SOFR plus 1.125%, with spreads of up to 1.875% depending on Enerpac's net leverage. The company may seek up to $425 million in additional loans. The term loan requires quarterly repayments from March 1, 2028, starting at $0.9375 million.

Enerpac Tool Group has expanded its board of directors from eight to nine members, appointing Charles T. Lauber effective immediately. Lauber brings over 40 years of finance experience, most recently serving as executive vice president and chief financial officer of A. O. Smith from 2019 to 2026 during a 27-year career with the company. Before joining A. O. Smith in 1999, Lauber spent 15 years with Ernst & Young, advancing to senior manager. He currently serves on the board of H.B. Fuller Company, where he sits on the audit and personnel and compensation committees. Chairman Jim Ferland said Lauber's financial leadership and governance experience will be valuable to the board. Lauber holds degrees from University of Wisconsin-Whitewater and Northwestern University's Kellogg School of Management.