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Trimble to sell Loadrite, other businesses

By |  April 13, 2022

Trimble

Trimble agreed to sell its Loadrite, Time & Frequency, Spectra Precision Tools and SECO accessories businesses to Precisional, an affiliate of The Jordan Company (TJC).

Trimble says the divestiture is in line with its strategy to focus on areas core to its long-term growth and strategic product roadmap. The transaction is subject to a number of customary closing conditions and is expected to close in the second quarter of 2022, the company says. Financial terms were not disclosed.

“We are continually evaluating our product portfolio as we work on the execution of Trimble’s Connect and Scale 2025 strategy,” says Rob Painter, president and CEO of Trimble. “Trimble is focusing its efforts on the company’s connected industry platforms and digital transformation capabilities, making Precisional and TJC an ideal fit for the growth of the businesses.”

TJC, a private-equity firm, is completing the acquisition in partnership with Drew Ladau to form Precisional, a global platform focused on precision measurement and data solutions driving efficiencies in infrastructure end markets.

“The Trimble businesses, which will join Precisional, have a long heritage of innovation, and each is a leader in the markets it serves,” says Ladau, CEO of Precisional. “I’m excited to build upon this strong foundation alongside the dedicated employees that have served their customers so well over the years. In addition, we plan to accelerate the pace of innovation and growth with the focus of resources and investment on these core businesses supported by TJC.”

Erik Fagan, partner at TJC, echoes Ladau’s excitement.

“The acquisition of four industry-leading businesses from Trimble by Precisional forms the foundation of a new platform focused on precise measurement and analytical insights to improve productivity across a broad range of applications that rely upon accuracy and reliability,” Fagan says. “By supporting existing management to make investments in Precisional’s operations and product development to integrate precision measurement with data solutions and enhance connectivity, we intend to accelerate growth opportunities while also pursuing synergistic acquisitions.”

The Loadrite business offers accurate scales for loaders, excavators, conveyor belts, tractors, refuse trucks and forklifts that connect with payload-reporting and monitoring systems for the waste, quarry and aggregate industry. The products improve user efficiency by weighing products while they are on a vehicle or belt, eliminating the need for a separate trip to a fixed scale location.

The Time & Frequency products use the accuracy of global navigation satellite system clocks to provide precise time, synchronization and frequency reference signals for many industries and applications. Communication systems, data centers, financial networks, utilities, factory automation, security and other infrastructure rely on precise timing for synchronization and operational efficiency.

The Spectra Precision Tools business designs and manufactures high-quality leveling, positioning and alignment instruments used for general, exterior and underground construction. The instruments incorporate laser and optical technology for general contractors and specialty contractors serving large and small commercial jobsites, as well as residential builders and remodelers.

The SECO businesses design and manufacture a variety of accessory products used in conjunction with surveying and construction instruments. The portfolio of accessory products includes tripods, telescopic poles, prisms, carrying cases, GPS antenna poles, safety vests and leveling rods.

Kevin Yanik

About the Author:

Kevin Yanik is editor-in-chief of Pit & Quarry. He can be reached at 216-706-3724 or kyanik@northcoastmedia.net.

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