The Toro Co. has acquired Astec Underground's line of vibratory plows, trenchers and horizontal directional drills.
"This acquisition helps further grow Toro's product presence in the landscape and ground engaging markets, along with providing access to a new category close to our core businesses," said Rick Rodier, general manager of Toro's Sitework Systems Business. "The underground utilities space represents a market in which we don't compete today, but one we believe provides great opportunity to drive global share growth in these new categories."
The products Toro is acquiring, which does not include Astec's Trencor product line, are manufactured at the Astec Underground facility in Loudon, Tenn.
Terms were not disclosed.