Professional Tool Reviews for Pros


Toro Acquires Intimidator Group, Manufacturer of Spartan Mowers

Toro Acquisition Expands Position in Zero Turn and UTV Markets

The Toro Company (NYSE: TTC) recently announced the acquisition of the privately-held Intimidator Group, based out of Batesville, Arkansas. The Intimidator Group designs and manufactures outdoor power equipment and side-by-side utility vehicles. They make these tools for the Intimidator, Envy, Bad Dawg, and Ground Hawg Max brands. Intimidator also owns Spartan Mowers, a professional line of zero-turn mowers known for performance, durability, and distinctive styling.


With Spartan Mowers’ established dealer network and strong presence in southern regions of the US, Toro believes that the Intimidator and Spartan acquisition will strategically expand its position. They look at this move to make them an even stronger player in the rapidly expanding zero-turn mower market.

Looking Forward

Richard Olsen, chairman and CEO of Toro, says, “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.”

Toro Acquires Spartan Mowers

Olsen goes on to talk about how this acquisition positions Toro to deliver long term shareholder returns. They plan to do this by committing to disciplined capital deployment. This includes investments in business, acquisitions, dividend growth, and share repurchases.


Toro Acquires Intimidator and Spartan: The Financials

Toro has spent $400 million to purchase the Intimidator Group. This was paid with a combination of cash on hand and short-term borrowings under the company’s existing revolving credit facility. The purchase has already received customary regulatory approvals.

Toro Acquires Spartan Mowers

Toro expects the acquisition to be modestly accretive for fiscal 2022 adjusted earnings. Of course, this would exclude the transaction and integration expenses. They also expect to be able to provide full-year guidance that includes the Intimidator Group acquisition when it reports its fiscal 2022 first quarter results.

For the 2021 calendar year, Intimidator Group’s net sales amounted to around $200 million.

What Is Intimidator Saying About It?

Our success and growth is the result of our dedicated team of employees, dealers and supply partners for which we are truly thankful and excited to be taking this next step in our journey together. The Toro Company has a rich history and proven track record of growing brands with the resources to fuel our future growth. With a shared commitment to furthering innovation, serving customers and supporting our people and communities, we look forward to joining The Toro Company and continuing to provide best-in-class products and service to our customers.

Robert and Becky Foster, owners of Intimidator Group

To learn more about the Toro acquisition of the Intimidator and Spartan Mower brands, click here.

Toro Acquisition Expands Position in Zero Turn and UTV Markets

The Toro Company (NYSE: TTC) recently announced the acquisition of the privately-held Intimidator Group, based out of Batesville, Arkansas. The Intimidator Group designs and manufactures outdoor power equipment and side-by-side utility vehicles. They make these tools for the Intimidator, Envy, Bad Dawg, and Ground Hawg Max brands. Intimidator also owns Spartan Mowers, a professional line of zero-turn mowers known for performance, durability, and distinctive styling.

With Spartan Mowers’ established dealer network and strong presence in southern regions of the US, Toro believes that the Intimidator and Spartan acquisition will strategically expand its position. They look at this move to make them an even stronger player in the rapidly expanding zero-turn mower market.

Looking Forward

Richard Olsen, chairman and CEO of Toro, says, “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.”

Toro Acquires Spartan Mowers

Olsen goes on to talk about how this acquisition positions Toro to deliver long term shareholder returns. They plan to do this by committing to disciplined capital deployment. This includes investments in business, acquisitions, dividend growth, and share repurchases.

Toro Acquires Intimidator and Spartan: The Financials

Toro has spent $400 million to purchase the Intimidator Group. This was paid with a combination of cash on hand and short-term borrowings under the company’s existing revolving credit facility. The purchase has already received customary regulatory approvals.

Toro Acquires Spartan Mowers

Toro expects the acquisition to be modestly accretive for fiscal 2022 adjusted earnings. Of course, this would exclude the transaction and integration expenses. They also expect to be able to provide full-year guidance that includes the Intimidator Group acquisition when it reports its fiscal 2022 first quarter results.

For the 2021 calendar year, Intimidator Group’s net sales amounted to around $200 million.

What Is Intimidator Saying About It?

Our success and growth is the result of our dedicated team of employees, dealers and supply partners for which we are truly thankful and excited to be taking this next step in our journey together. The Toro Company has a rich history and proven track record of growing brands with the resources to fuel our future growth. With a shared commitment to furthering innovation, serving customers and supporting our people and communities, we look forward to joining The Toro Company and continuing to provide best-in-class products and service to our customers.

Robert and Becky Foster, owners of Intimidator Group

To learn more about the Toro acquisition of the Intimidator and Spartan Mower brands, click here.

Related articles

Ryobi Hobby Station For Rotary Tools

Give Yourself An Extra Hand When Working With Rotary Tools Rotary tools have so many uses that it’s hard to keep count. The Ryobi Hobby Station is designed to make your rotary tool even more versatile and help you reimagine what you can accomplish. Ryobi Hobby Station: The Big Deal The biggest and most obvious […]

Diablo Demo Demon Nail-Embedded Wood Spade Bits

Diablo Demo Demon Spade Bits Make Easy Work Of Nail-Embedded Wood When you’re drilling, speed and power are two of the most critical factors. Diablo’s SpeedDemon spade bits have been a staple in many toolboxes, but they’re limited once you start hitting nails. When you’re working with a high risk of nail strikes, Diablo Demo […]

Best Tape Measure Reviews for 2022

Tape measures are a staple in everyone’s toolbox from the most seasoned Pro to the greenest DIYer. Ranging in length and price, most cost less than $30. But are all tape measures created equally? Of course not. We’re breaking things down into the categories our Pro team says are most important when they’re looking for […]

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x