PROVIDENCE – Textron Inc. has closed its sale of its Tools & Test businesses and brands to Emerson Electric Co. for $810 million in cash.
The deal included the Greenlee, Greenlee Communications, Greenlee Utility, HD Electric, Klauke, Sherman+Reily and Endura brands.
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Emerson is headquartered in St. Louis, and is a technology and engineering company in the industrial, commercial and residential markets.
Textron had announced the deal in April in a first-quarter Securities and Exchange Commission filing.
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The company said that it intends to use proceeds from the sale for share repurchases to offset the earnings impact related to the sale.
