Trimble has agreed to sell its Time and Frequency, Loadrite, Spectra Precision Tools and SECO accessories businesses to Precisional LLC, a global precision measurement and data solutions platform for infrastructure end markets. Precisional is owned by The Jordan Company, a private equity firm.
The move, Trimble says, will allow the company to focus on areas core to its long-term growth and strategic product roadmap.
“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.”
Here is an overview of the businesses Precisional will acquire:
- The Time and Frequency products use GNSS clocks to provide precise time, synchronization and frequency reference signals for many industries and applications, including communication systems, data centers, financial networks, utilities, factory automation, security and other infrastructure.
- The Spectra Precision Tools business designs and manufactures leveling, positioning and alignment instruments used for general, exterior and underground construction by general contractors and specialty contractors serving large and small commercial jobsites as well as residential builders and remodelers.
- The Loadrite business offers 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. By weighing products while they are on a vehicle or belt, the need for a separate trip to a fixed scale location is eliminated.
- The SECO business designs and manufactures accessory products, such as tripods, telescopic poles, prisms, carrying cases, GPS antenna poles, safety vests and leveling rods, used in conjunction with surveying and construction instruments.
“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 Precisional.
The financial terms of the transaction, which is expected to close in the second quarter of 2022, were not disclosed.