The Toro Company (TTC) has announced the sale of its Trencor equipment brand and the auger boring product category, part of its American Augers brand. The financial terms were not disclosed.
This move is part of Toro's strategy to streamline its construction portfolio and concentrate on core underground segments with higher growth potential.
Despite the divestitures, Toro will continue manufacturing American Augers' large horizontal directional drills, pumps, and fluid cleaning systems at its West Salem, Ohio facility. The Trencor divestiture includes assets tied to large-track trenchers and mining equipment.
Peter Moeller, group VP of Construction Businesses, said the decision strengthens the company's focus on core underground categories supported by rising demand in pipeline, water, and energy transmission. He emphasized Toro's long-term confidence in delivering innovative underground construction solutions.
These actions align with Toro's broader strategy of disciplined portfolio management and efficient capital allocation. Both Trencor and American Augers were acquired in 2019 through the company's purchase of Charles Machine Works, which also included Ditch Witch and other underground construction brands. Revenue from the divested operations had been reported under Toro's professional segment.
TTC currently trades at $73.45 or 1.20% lower on the NYSE.
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