Toro to Acquire BOSS® Professional Snow and Ice Management Business

The Toro Company (NYSE: TTC) has announced that it has entered into a definitive agreement to acquire the BOSS® professional snow and ice management business of privately-held Northern Star Industries.

The purchase price is approximately $227 million, which Toro will pay primarily in cash except for $30 million that will be paid in the form of a three-year unsecured promissory note.

The transaction is subject to customary closing conditions, including regulatory approvals, and currently is expected to close during Toro’s fiscal 2015 first quarter.

Based in Iron Mountain, Michigan, BOSS designs, manufactures and sells snowplows, salt and sand spreaders, and related parts and accessories, for light and medium duty trucks, ATVs, UTVs and loaders.

BOSS sales in 2014 are anticipated to be approximately $125 million.

“With the addition of BOSS to our existing market-leading professional contractor businesses, we are even better positioned to strengthen and grow our relationships with these important customers by providing them with the innovative and durable equipment and high-quality service they need for each season,” said Michael J. Hoffman, Toro’s chairman and chief executive officer.

Category: Featured, General Update