Trimble Divests Four Construction Tech Units
April 14, 2022
has entered into a definitive agreement to sell its Time and
Frequency, LOADRITE, Spectra Precision Tools and SECO accessories
businesses to Precisional an affiliate of The Jordan Company. The
divestiture is in line with Trimble's strategy to focus on areas
core to its long-term growth and strategic product roadmap. The
global transaction is subject to a number of customary closing
conditions and is expected to close in the second quarter of 2022.
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," said
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 industry executive Drew Ladau to form Precisional,
a global platform focused on precision measurement and data
solutions driving efficiencies in the most demanding infrastructure
"The Trimble businesses, which will join Precisional, have a long
heritage of innovation, and each is a leader in the markets it
serves. "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," said Drew Ladau, CEO of
"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," said Erik Fagan, partner at TJC. "By supporting
existing management to make investments in Precisional's operations
and product development to integrate precision measurement with data
solutions and enhanced connectivity, we intend to accelerate growth
opportunities while also pursuing synergistic acquisitions."
The Time and Frequency products use the accuracy of GNSS 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.
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 aggregates 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 SECO business designs and manufactures a wide 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.
LOADRITE, Spectra Precision Tools and the SECO businesses have been
reported as part of Trimble's Buildings and Infrastructure segment.
The Time and Frequency business has been reported as part of
Trimble's Geospatial segment.
Orrick acted as legal advisor and Lincoln International acted as
financial advisor to Trimble. Mayer Brown acted as legal advisor and
BMO Capital Markets acted as financial advisor to TJC.