Chesterfield-based Tedd Engineering has made electronic control systems for heavy machinery for more than 30 years, primarily focusing on the aggregates business. It has 70 employees and tuned over 拢15m last year.
The acquisition is expected to close before the end of the year. Purchase price was not disclosed.
Markku Simula, president of Metso鈥檚 aggregates business area, said: 鈥淭he acquisition clearly strengthens our capabilities to utilise digitalisation and automation in our mobile equipment business and especially in the aftermarket. We are committed to serving all of Tedd Engineering鈥檚 current customers as well as developing new solutions for them. The current Tedd Engineering customers will see the continuation of their business and future investments.鈥�
He added: 鈥淏eyond Metso鈥檚 own mobile products, Tedd Engineering will offer new opportunities for the automation aftermarket business, including control system upgrades, digital solutions, and remote monitoring. Tedd Engineering has been a trusted automation supplier for Metso鈥檚 McCloskey brand already for several years and coming together will give us new opportunities to speed up our electrification and digitalisation programs.鈥�
Tedd chief executive Richard Hooper said: 鈥淢etso is one of the leaders in its field, and deepening our already long-standing co-operation by joining them is a very good next step for Tedd Engineering. I am sure that by broadening the scope of our advanced control systems more widely throughout their portfolio, we can enhance the already excellent digital and automation offering to their customers.鈥�
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