M&A Deal Summary

Toro Acquires Astec Underground

On February 10, 2012, Toro acquired machinery company Astec Underground from Astec Industries

Acquisition Highlights
  • This is Toro’s 3rd transaction in the Machinery sector.
  • This is Toro’s 6th transaction in the United States.
  • This is Toro’s 1st transaction in Tennessee.

M&A Deal Summary
Date 2012-02-10
Target Astec Underground
Sector Machinery
Buyer(s) Toro
Sellers(s) Astec Industries
Deal Type Divestiture

Target

Astec Underground

Loudon, Tennessee, United States
Astec Underground, Inc. is a provider of vibratory plows, trenchers and horizontal directional drills for the underground utilities market.

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Buyer(S) 1

Buyer

Toro

Bloomington, Minnesota, United States
Category Company
Founded 1914
Sector Machinery
Employees10,706
Revenue 4.6B USD (2023)
DESCRIPTION
Toro's corporate headquarters in Bloomington, Minnesota.
Toro's corporate headquarters in Bloomington, Minnesota.

Toro is a designer and manufacturer of turf and landscape maintenance equipment, and precision irrigation systems to commercial and residential customers. Toro was founded in 1914 and is based in Bloomington, Minnesota.

DEAL STATS #
Overall 7 of 15
Sector (Machinery) 3 of 9
Type (Divestiture) 2 of 2
State (Tennessee) 1 of 1
Country (United States) 6 of 12
Year (2012) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-27 Lawn Solutions Commercial Products

Louisville, Kentucky, United States

Lawn Solutions Commercial Products, Inc. is a manufacturer of turf renovation equipment for the landscape, rental, municipal and golf markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-30 Xiamen Xiangfeng Water Saving Equipment

China

Xiamen Xiangfeng manufactures water-efficient drip irrigation products, sprinklers, emitters and filters for agriculture, landscaping and green house production.

Buy -

Seller(S) 1

SELLER

Astec Industries

Chattanooga, Tennessee, United States
Category Company
Founded 1972
Sector Machinery
Employees4,322
Revenue 1.3B USD (2023)
DESCRIPTION

Astec Industries is a manufacturer of specialized equipment for asphalt road building; aggregate processing; oil, gas and water well drilling; and wood processing. Astec Industries was founded in 1972 and is based in Chattanooga, Tennessee.

DEAL STATS #
Overall 1 of 2
Sector (Machinery) 1 of 2
Type (Divestiture) 1 of 2
State (Tennessee) 1 of 1
Country (United States) 1 of 2
Year (2012) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-01 Dillman Equipment

Prairie du Chien, Wisconsin, United States

Dillman Equipment, Inc. is a manufacturer of asphalt plant equipment. Dillman Equipment supplies the asphalt industry with asphalt plant equipment that includes asphalt storage silos, DuoDrum™ counterflow drum plants, cold feed systems, recycle systems, baghouses, dust silos, air pollution control systems, portable asphalt plants, drag slats, transfer conveyors, plant controls, control houses, silos, asphalt storage tanks, parts and field services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-01 American Augers

West Salem, Ohio, United States

American Augers, Inc. is a manufacturer of state-of-the-art auger boring machines, directional drills and fluid/mud systems used in the "underground construction" or "trenchless" market.

Sell $55M
Mergr

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