Emerson to acquire Textron’s tool business for $810 million

Emerson Electric will acquire the tools and equipment business of Textron, a Providence, Rhode Island-based defense and aerospace company, for $810 million.

The business makes products including electrical and utility tools, and test and measurement instruments. It recorded 2017 revenue of about $470 million.

Ferguson-based Emerson will combine the unit with its Ridge Tool Company to create a $1 billion professional tools business.

The deal is expected to close in the next 90 days.

Read more: St. Louis Post-Dispatch

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