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Home » Textron sells OmniQuip to JLG

Textron sells OmniQuip to JLG

August 10, 2003
More about:  Fasteners,  Mergers/Acquisitions
As part of its ongoing effort to divest non-core assets, Textron Inc., Providence, RI, has completed the sale of its OmniQuip business unit to JLG Industries, Inc. for $100 million. OmniQuip, based in Port Washington, WI, is a manufacturer of telescopic material handlers for the light construction industry.


The OmniQuip product line sold to JLG is marketed under the SkyTrak and Lull brand names and generated 2002 revenues of approximately $217 million. Over the past two years, Textron has divested two other OmniQuip product lines ' SCAT TRAK skid steer loaders and Snorkel aerial work platforms ' as part of its strategy to divest units that do not fit with Textron's overall strategy to create a simpler, more focused network of businesses. The telescopic material handler line is the ...

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As part of its ongoing effort to divest non-core assets, Textron Inc., Providence, RI, has completed the sale of its OmniQuip business unit to JLG Industries, Inc. for $100 million. OmniQuip, based in Port Washington, WI, is a manufacturer of telescopic material handlers for the light construction industry.


The OmniQuip product line sold to JLG is marketed under the SkyTrak and Lull brand names and generated 2002 revenues of approximately $217 million. Over the past two years, Textron has divested two other OmniQuip product lines ' SCAT TRAK skid steer loaders and Snorkel aerial work platforms ' as part of its strategy to divest units that do not fit with Textron's overall strategy to create a simpler, more focused network of businesses. The telescopic material handler line is the last remaining business of OmniQuip, which Textron purchased in 1999.


Textron Inc. is an $11 billion multi-industry company with 49,000 employees in 40 countries. The company operates in industries such as aircraft, fastening systems, industrial products and components and finance. Textron is known for brands such as Bell Helicopter, Cessna Aircraft, Kautex, Lycoming, E-Z-GO and Greenlee, among others.

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