MTZ - The Toro Company To Acquire Charles Machine Works For Underground Expansion
Quick Take
The Toro Company (TTC) announced it has agreed to acquire The Charles Machine Works for $700 million.
The Charles Machine Works provides underground pipe and cable solutions to utilities and other underground infrastructure applications.
TTC is acquiring the company to diversify its offerings into professional infrastructure markets that management believes will position it to take advantage of high growth opportunities in water and technology infrastructure repair and buildouts.
Target Company
Perry, Oklahoma-based Charles Machine Works was founded in 1902 as a blacksmith; now the company provides solutions related to installation, maintenance,