Jan 19 2011
The Toro Company (NYSE: TTC) today announced it has acquired certain assets from Unique Lighting Systems, a leading manufacturer of high-quality, professionally installed landscape lighting fixtures and transformers for residential and commercial use.
The acquisition strengthens Toro’s offering to distributors and irrigation contractors, and includes the Odyssey, Signature Series, and Brass and Copper Knights landscape lighting product lines. Terms of the transaction were not disclosed.
“Unique Lighting has a tremendous customer culture and reputation for building innovative, high-quality products for professional-grade installation,” said Phil Burkart, vice president of Toro’s Irrigation Business. “What makes this acquisition strategically attractive is that it represents an offering that is installed by many of the same contractors that purchase our irrigation products, sold by a majority of Toro’s channel customers, and admired by end-users seeking to beautify outdoor landscapes.”
As a result of the purchase, co-owners Randy Weisser and Nate Mullen will join Toro and become an important part of the company’s outdoor lighting team that will be located in Toro’s Irrigation Business based in Riverside, California. “We are very excited about our future with Toro,” said Weisser. Added Mullen, “This acquisition adds great value and strength to not only our respective companies, but also our close partners and strong contractor base. Toro’s significant product development and marketing resources, along with advanced manufacturing capabilities, will further enhance Unique’s continuing track record of innovation and leadership.”
Source: http://www.toro.com/