TJC Forms New Platform, Carves Four Businesses from Trimble

TJC Forms New Platform, Carves Four Businesses from Trimble

TJC partnered with industry executive Drew Ladau to form Precisional as a new platform in the measurement and analytical components sector

The four acquired units make timing receivers, antennas, precision timing protocol (PTP) clocks; leveling, positioning, and alignment instruments; scales for loaders and excavators; and surveying and construction instruments

SOURCE: Trimble Inc.

The Jordan Company (TJC) has formed Precisional as a new platform company to carve out four business units of publicly traded Trimble. The four units include Time and Frequency, LOADRITE, Spectra Precision Tools and SECO accessories.

Trimble’s Time and Frequency products – timing receivers, antennas, and precision timing protocol (PTP) clocks – utilize data from the global navigation satellite system (GNSS) to provide precise time, synchronization and frequency reference signals that are used in communication systems, data centers, financial networks, utilities, and factory automation to maximize timing, synchronization and operational efficiencies.

The Spectra Precision Tools business designs and manufactures leveling, positioning, and alignment instruments – which use laser and optical technology – that are used by general contractors and specialty contractors for exterior and underground construction projects.

Trimble’s LOADRITE business provides scales for loaders, excavators, conveyor belts, tractors, refuse trucks and forklifts that are integrated with payload-reporting and monitoring systems in the waste, quarry and aggregates sectors. LOADRITE products eliminate the need for a separate trip to a fixed scale location.

The SECO business manufactures a variety of accessory products including tripods, telescopic poles, prisms, carrying cases, antenna poles, safety vests and leveling rods that are used in conjunction with surveying and construction instruments.

TJC is partnering on the formation of Precisional with industry executive Drew Ladau. “The Trimble businesses which will join Precisional have a long heritage of innovation, and each is a leader in the markets it serves,” said Mr. Ladau. “I’m excited to build upon this strong foundation alongside the dedicated employees that have served their customers so well over the years. In addition, we plan to accelerate the pace of innovation and growth with the focus of resources and investment on these core businesses supported by TJC.”

“The acquisition of four industry-leading businesses from Trimble by Precisional forms the foundation of a new platform focused on precise measurement and analytical insights to improve productivity across a broad range of applications that rely upon accuracy and reliability,” said Erik Fagan, a partner at TJC. “By supporting existing management to make investments in Precisional’s operations and product development to integrate precision measurement with data solutions and enhanced connectivity, we intend to accelerate growth opportunities while also pursuing synergistic acquisitions.”

The Jordan Company is a middle-market private equity firm that invests in a range of industries including industrials, transportation and logistics, healthcare, consumer, telecom, technology, and utilities. The firm was founded in 1982 and is headquartered in New York City with additional offices in Chicago and Stamford.

Trimble’s sale of these four business units is in line with its corporate strategy to focus on its core businesses. “We are continually evaluating our product portfolio as we work on the execution of Trimble’s Connect and Scale 2025 strategy,” said Rob Painter, the president and CEO of Trimble. “Trimble is focusing its efforts on the company’s connected industry platforms and digital transformation capabilities.”

Trimble’s (NASDAQ: TRMB) products and services are used in positioning, modeling, connectivity and data analytics applications in the surveying, construction, agriculture, transportation, telecommunications, asset tracking, and mapping sectors. The company had sales in 2021 of $3.7 billion. Sunnyvale, California-headquartered Trimble was founded in 1978 by Charles Trimble and two partners from Hewlett Packard.

Lincoln International was the financial advisor to Trimble and BMO Capital Markets was the financial advisor to TJC.

This transaction is expected to close in the second quarter of 2022.

© 2022 Private Equity Professional | April 20, 2022

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