Maxima sells for $91M

Buyout shop HB Equity Partners has sold Maxima Technologies, a electronics and components company, to Actuant Corp. (NYSE: ATU) for $91 million, including the assumption of about $1.9 million in debt. Actuant said it would finance the deal through its revolving credit facility. Maxima employs about 500 people and generates annual revenues of some $65 million. Its products are used by companies in the marine, agricultural, off-highway, industrial, specialty vehicle and automotive markets.