PSL S-4 Registration of securities issued in business combination transactions

Exhibit 12.1

Actuant Corporation

Statement Regarding Computation of Ratio of Earnings to Fixed Charges

(amounts in thousands)

	Fiscal Year Ended August 31,										Nine Months Ended:
	2007		2008		2009 (a)		2010		2011		May 31, 2011		May 31, 2012 (b)
Earnings (loss) from continuing operations before income tax expense, as reported	$	160,753	$	182,280	$	26,593	$	89,202	$	159,207		111,703		131,202
Adjustments:
Add: Fixed charges		35,240		40,170		44,630		33,863		34,864		25,622		25,606
Less: Capitalized interest		—		171		—		—		—		—		—
Earnings from continuing operations before income tax expense, as adjusted		195,993		222,279		71,223		123,065		194,071		137,325		156,808
Fixed Charges:
Interest incurred		33,748		38,262		42,539		32,248		32,949		24,273		24,029
Interest component of rent expense (estimated at 7.25%)		1,492		1,908		2,091		1,615		1,915		1,349		1,577
		35,240		40,170		44,630		33,863		34,864		25,622		25,606
Earnings to fixed charges ratio		5.6		5.5		1.6		3.6		5.6		5.4		6.1

(a) Earnings from continuing operations before income tax expense for the fiscal year ended August 31, 2009 included a $31.3 million non-cash impairment charge related to the goodwill, intangible and fixed assets of the recreational vehicle and harsh environment electrical business reporting units (as disclosed in the Company’s Form 10-K filed with the Securities and Exchange Commission on October 28, 2009). Excluding the impairment charge, the earnings to fixed charge coverage ratio would have been 2.3 for the fiscal year ended August 31, 2009.

(b) Earning from continuing operations before income tax expense for the nine months ended May 31, 2012 includes a debt refinancing charge of $16.8 million. Excluding this charge, the earning to fixed charge coverage ratio would have been 6.8 for the nine months ended May 31, 2012.