E-Z-GO, a Textron company, acquired TUG Technologies Corp., a manufacturer of ground support equipment in the aviation industry.
Augusta, Ga.-based E-Z-GO acquired TUG, located in Kennesaw, Ga., from Jacobson Partners, a private-equity firm based in New York, which had owned the company since January 2005. Post-acquisition, TUG’s products will continue to be manufactured at its Kennesaw facility by its workforce of more than 200 employees.
“TUG joins E-Z-GO with a strong brand, a proven and diverse product line and decades of leadership in its industry,” said E-Z-GO President Kevin Holleran. “Those advantages, combined with Textron’s resources and operational expertise, make for a formidable platform to drive growth and expansion. Together, E-Z-GO and TUG will better serve our customers and create more value for Textron shareholders.”
Stefaan Ver Eecke, VP and general manager for TUG, added: “It is an honor to become a part of E-Z-GO and Textron, a leader in multiple industries worldwide and the manufacturer of such iconic aviation brands as Cessna, Beechcraft, Hawker and Bell Helicopter. 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.”
