Press release
Precisional Completes Acquisition of Four Industrial Technology Businesses from Trimble
NEW YORK, May 9, 2022 /PRNewswire/ -- Precisional, an affiliate of The Jordan Company ("TJC"), announced today that it has completed the previously announced
About this update from Trimble Inc.
[{"type":"text","content":"NEW YORK, May 9, 2022 /PRNewswire/ -- Precisional, an affiliate of The Jordan Company (\"TJC\"), announced today that it has completed the previously announced transaction to acquire four industrial technology businesses from Trimble (NASDAQ: TRMB). The acquired businesses include Protempis (formerly Trimble Time and Frequency), LOADRITE, Spectra Precision Tools, and SECO. Financial terms were not disclosed.\nTJC, a private equity firm, formed Precisional LLC, (\"Precisional\"), as a global platform focused on precision measurement and data solutions driving efficiencies in the most demanding infrastructure end markets. \"The Trimble businesses, which have joined 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.\n\"The acquisition of four industrial technology 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.\"\nThe Protempis business 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.\nThe 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 servin...