Engineering and construction accessories company will join Trimble and operate as a wholly-owned subsidiary as part of Trimble’s Engineering and Construction segment
Sunnyvale, Calif., Jan. 10 — Trimble 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: http://www.crainent.com.
About Trimble’s Engineering and Construction Business
Trimble, a world leader in GPS, construction lasers, robotic total stations and machine control solutions, is creating a broad range of innovative solutions that changes the way construction work is done. The engineering and construction business of Trimble is focusing on the development of technology and solutions in the core areas of surveying, construction and infrastructure. From concept to completion, Trimble’s integrated systems streamline jobs and improve productivity.
Trimble applies technology to make field and mobile workers in businesses and government significantly more productive. Solutions are focused on applications requiring position or location-including surveying, construction, agriculture, fleet and asset management, public safety and mapping. In addition to utilizing positioning technologies, such as GPS, lasers and optics, Trimble solutions may include software content specific to the needs of the user. Wireless technologies are utilized to deliver the solution to the user and to ensure a tight coupling of the field and the back office. Founded in 1978 and headquartered in Sunnyvale, Calif., Trimble has a worldwide presence with more than 3,400 employees in over 18 countries.
For more information, visit Trimble’s Web site at http://www.trimble.com.
Certain statements made in this press release are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties, and actual events and results may differ materially from those described in this news release. Factors that could cause or contribute to such differences include, but are not limited to, continued customer use and future market acceptance of Crain accessory products and Trimble bundled solutions, competition and pricing pressures from other accessory providers, the ability of Crain to expand by leveraging Trimble distribution channels, and changing market and economic trends in the industry. Additional risks and uncertainties include: the risks inherent in integrating an acquisition; unanticipated expenditures, charges or assumed liabilities that may result from the acquisition; and retaining key personnel. More information about potential factors which could affect Trimble’s business and financial results is set forth in reports filed with the SEC, including Trimble’s quarterly reports on Form 10-Q and its annual report on Form 10-K. All forward looking statements are based on information available to Trimble as of the date hereof, and Trimble assumes no obligation to update such statements.