Toro Charges into Municipal Water Infrastructure with Charles Machine Works Acquisition
On 15 February 2019, The Toro Company, a U.S. landscaping and irrigation equipment supplier, announced its acquisition of Oklahoma-based Charles Machine Works (CMW) for US$700 million.
Within water & wastewater, CMW subsidiaries market a range of open-cut and trenchless pipeline construction and rehabilitation products. According to Bluefield 2018 forecasts, pipe network infrastructure will account for more than 43% of the US$683 billion in total projected U.S. municipal water & wastewater CAPEX from 2018 to 2027.
In this Research Note, Bluefield water experts analyze Toro’s acquisition strategy, evaluate competitors in the trenchless pipe market, and identify new growth opportunities for smart irrigation.