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Trimble Acquires Engineering Accessories Firm
10 January 2008, 9:59am
SUNNYVALE, Calif., Jan. 10, 2008 — Trimble (NASDAQ: TRMB) announced today it has acquired privately-held Crain Enterprises, Inc. of Mound City, Illinois, in an all-cash transaction. Crain is a leading manufacturer of accessories for the geomatics, surveying, mapping, and construction industries. Financial terms were not disclosed.
Crain's product lines include tripods, bipods, leveling rods, measuring rulers, prisms, prism and GPS poles, stream gauges, wire installation tools, as well as bags, packs, and sewn carrying cases for surveying and positioning instruments. The purchase of Crain allows Trimble to provide the necessary accessories that can be offered as part of its positioning solutions used in the Engineering and Construction markets. In addition, Crain and Trimble will be able to leverage distribution channels.
"Crain will enable us to augment our existing product lines by offering accessories as part of our solutions portfolio," said Jim Veneziano, general manager of Trimble's Construction Division. "Since accessories are often key to achieving total system performance, this acquisition will enable us to better satisfy user needs."
"We are pleased to become a part of Trimble," said Steve Crain, president and CEO of Crain Enterprises. "We have worked closely with Trimble over the years and we believe the acquisition is an ideal fit. The acquisition solidifies our best in class product position and gives us access to expand by leveraging Trimble's worldwide distribution channel."
Steve Crain and the staff of Crain Enterprises will join Trimble and operate as a wholly-owned subsidiary as part of Trimble's Engineering and Construction segment.
About Crain Enterprises, Inc.
Founded in 1945 as a commercial warehousing business, Crain has become a leading manufacturer of measuring tools and geomatics accessories for the surveying and construction industries. The Company's products are available through more than 500 dealers throughout North America.
For more information, visit: www.crainent.com
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SUNNYVALE,, Calif.,, Jan., 10,, 2008, —, Trimble, (NASDAQ:, TRMB), announced, today, it, has, acquired, privately-held, Crain, Enterprises,, Inc., of, Mound, City,, Illinois,, in, an, all-cash, transaction., Crain, is, a, leading, manufacturer, of, accessories, for, the, geomatics,, surveying,, mapping,, and, constructionMore…
Mike Small
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