Bolsters Toro's position in rental market
The Toro Co. said Thursday it has acquired some of the assets of Stone Construction Equipment Inc. for an undisclosed sum.
The Bloomington-based turf and landscape equipment maker said it bought light construction and hardscape product assets from the Honeoye, N.Y.-based firm.
Stone Construction manufactures concrete and hardscape equipment for rental and construction companies.
Toro said the acquisition builds on its position in the growing rental market, which includes concrete and mortar mixers, material handlers, compaction equipment, and other concrete power tools. The company said the acquired products also extend Toro's product offerings to contractors and rental companies, and complement its recent acquisitions of tree care and turf renovation product lines.
"Stone [Construction Equipment] built a solid reputation around quality," said Rick Rodier, general manager of Toro's Sitework Systems Business, in a statement. "These products are respected by rental and construction customers, and complement our current line of compact utility equipment and trenchers extremely well. We see great opportunity to leverage our core strengths in innovation, engineering and distribution to grow share in these new categories."
Janet Moore 612-673-7752