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California deal adds to Toro's water business
The Bloomington lawn mower company acquired a manufacturer of irrigation controls.
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Moving to expand its role in the water conservation market, Toro Co. said Friday that it has bought a California company that will immediately broaden its distribution and offerings of precision irrigation technologies. Terms were not disclosed.
With the purchase of 25-year-old Rain Master Irrigation Systems, an irrigation control manufacturer, the Bloomington-based company gains an operation with $10 million in annual sales. Toro also bolsters its plan to expand its water-saving equipment division at a time when many firms are focusing on conservation.
Recent trends with global warming, droughts and crop problems have caused farmers, ranchers and park managers to ramp up systems that make increasingly efficient use of water. That's providing a growth opportunity for Toro, officials said.
"This purchase is consistent with our strategy to pursue acquisitions that will strengthen our position in the water management market and drive our revenue growth," said Toro CEO Michael Hoffman.
Rain Master CEO Jim Sieminski and 35 other employees will now become part of Toro. Rain Master products will become part of Toro's Irritrol product line.
While Toro is perhaps best known for its lawn mowers, landscape equipment and golf-course and ball-field management products, it also makes automated sprinkler systems, valves, controllers and central controls for residential, agricultural, sports and commercial customers.
"Given that water conservation is turning into water restrictions in many parts of the country, and the world for that matter, protecting this precious resource is important," spokesman Branden Happel said. "At Toro, we have a strong stake in water -- it's one of our key focuses."
Toro will be investing more in research and new technologies to better manage water consumption, Happel said. The company just hosted its second symposium in California on water scarcity issues and water management.
Currently, Toro sells "smart controllers," which connect customer sprinkler systems with weather satellites that tell the irrigation system to shut down when it rains or a storm is coming. That prevents overwatering, officials said.
Another Toro product, the Intelli-Sense system, can sense when landscapes need moisture and can be programmed to water for a specific soil type, terrain, or plant. Other systems work with wind and directional spraying.
Toro, with $1.8 billion in 2006 sales, will report its third-quarter earnings on Thursday.
Dee DePass • 612-673-7725
Dee DePass • ddepass@startribune.com
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