Textron (NYSE: TXT) a subsidiary of E-Z-GO has purchased aviation ground support equipment manufacturer TUG Technologies Corp. from private-equity firm Jacobson Partners for an undisclosed amount.
Kennesaw, Ga.-based TUG manufactures products including material handling vehicles and mobile heating and air-conditioning systems, in addition to providing aircraft ground services to commercial and government customers, E-Z-GO said Friday.
Kevin Holleran, president of E-Z-GO, said the company aims to expand its operations and create shareholder value through the acquisition.
“This acquisition connects TUG to a broad range of resources, technologies and capabilities that will power growth for our brand and enable us to introduce new products and services that drive our business forward, ” said Stefaan Ver Eecke, TUG vice president and general manager.
E-Z-GO became a business operating unit of Textron in 1960 and maintains a portfolio of golf cars, utility vehicles and ground support equipment.