The Toro Co. acquires Intimidator Group

The Toro Co., Bloomington, Minn., has acquired privately-held Intimidator Group, Batesville, Ark. The Intimidator Group designs and manufactures Spartan Mowers, a professional line of zero-turn mowers. Intimidator Group also designs and manufacturers side-by-side utility vehicles.

“The addition of Spartan Mowers to our portfolio strategically positions us to be an even stronger player in the large and rapidly growing zero-turn mower market,” said Richard Olson, chairman and CEO, The Toro Co. “Spartan’s product lineup complements our innovative Exmark and Toro branded equipment and provides unique opportunities to further leverage technology and design, procurement and manufacturing efficiencies. We are confident the combined efforts of our teams will help advance our strategic priorities while providing unparalleled products, technologies and service to our customers.”

The transaction already has received customary regulatory approvals. The purchase price was $400 million, which was paid with a combination of cash on hand and short-term borrowings under the company’s existing revolving credit facility. For calendar year 2021, Intimidator Group net sales were approximately $200 million.