Racine-based Twin Disc Inc. announced today that it sold the assets and distribution rights of its southeast distribution territories to Great Lakes Power Service Company of Mentor, Ohio, for approximately $4 million.
Twin Disc is a designer and manufacturer of marine and heavy-duty off-highway power transmission equipment.
In February, Great Lakes, a long-standing Twin Disc distributor, completed a similar transaction by acquiring the assets and distribution rights from Twin Disc Mid-Atlantic for approximately $1 million.
As part of the most recent transaction that was effective Sept. 25, Great Lakes Power purchased certain inventory and operational assets from Twin Disc Southeast. Great Lakes Power will continue to operate facilities previously used by Twin Disc Southeast, including Florida locations in Jacksonville, Tampa and Miami, as well as the newest location in Beaufort, N.C.
“We are pleased to expand our relationship with Great Lakes Power, which has distributed and serviced Twin Disc products since it was founded over 40 years ago,” said John Batten, president and chief executive officer. “These transactions are part of Twin Discs’ ongoing strategy to focus resources on core manufacturing and product development activities aimed at spurring growth and greater profitability.”