Thomas Equipment completes Tovel purchase

Thomas Equipment has completed its purchase of Tovel Manufacturing, including all inventory, trademarks and patents, customer lists, designs, engineering drawings and production facilities related to Tovel’s rough-terrain forklifts, telescopic handlers, attachments, mortar/plaster mixers, mortar boxes and buggies.

Thomas management expects the acquisition to add to earnings within the next two quarters and plans to expand Tovel’s North American distribution.