The purchase adds utility trenchers, vibratory plows and directional drills to the iron company’s portfolio.
BLOOMINGTON, Minn. – Toro has acquired certain utility and underground product assets of Astec Underground.
The deal adds Astec Underground’s equipment line of vibratory plows, trenchers and horizontal directional drills to Toro’s portfolio.
“This acquisition helps further grow Toro’s product presence in the landscape and ground engaging markets, along with providing access to a new category close to our core businesses,” said Rick Rodier, general manager of Toro’s Sitework Systems Business. “The underground utilities space represents a market in which we don’t compete today, but one we believe provides great opportunity to drive global share growth in these new categories.”
Based in Chattanooga, Tenn., Astec Industries builds specialized equipment for asphalt road building, aggregate processing, pipeline and utility trenching and wood processing. The products Toro is acquiring are made at the Astec Underground facility in Loudon, Tenn.
Terms of the transaction were not disclosed.