The Toro Company Acquires The Charles Machine Works
April 1, 2019
The Toro Company completed its acquisition of privately held The Charles Machine Works, the parent company of Ditch Witch and other underground-construction brands. The deal was valued at approximately $700 million, financed with new debt and borrowings under Toro's credit facility; Toro expects about $30 million of synergies over three years and that the transaction is immediately accretive to EPS (excluding certain adjustments).
- Buyers
- The Toro Company
- Targets
- The Charles Machine Works, Inc.
- Industry
- Manufacturing
- Location
- Oklahoma, United States
- Transaction Type
- Buyout
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