The Toro Company's fifth acquisition in less than 18 months adds to the company's product lines the light-construction, concrete and hardscape equipment of Stone Construction Equipment. Stone's products join the Astec Underground machines Toro purchased in February, and elments of Toro's own product lines, in appealing to rental firms and construction contractors. Terms of the Stone transaction were not disclosed.
The most recent acquisitions build on Toro's position in the growing rental market with a line of branded products in the hardscape space, which include concrete and mortar mixers, material handlers, compaction equipment, and other concrete power tools.
“Stone built a solid reputation around quality,” said Rick Rodier, general manager of Toro's Sitework Systems Business. “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.”