Textron completes $810M sale of Tools & Test brands and businesses

TEXTRON has completed the sale of its Tools & Test businesses and brands to Emerson Electric.
TEXTRON has completed the sale of its Tools & Test businesses and brands to Emerson Electric.

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.

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.