The Toro Company recently announced that they will be acquiring privately-held The Charles Machine Works, Inc. for $700 million in cash, subject to specific adjustments set forth under the definitive agreement. The Charles Machine Works, Inc. corporation is an Oklahoma parent company of many leading brands in the underground construction market, including Ditch Witch. While the transaction is still subject to customary closing conditions and regulatory approvals, the deal should be closed before the end of Toro’s third fiscal quarter of 2019.
Ashley BurtFebruary 20, 2019