Techtronic signs agreement to acquire power tool manufacturers

Milwaukee Tool and AEG part of the deal

Techtronic Industries recently announced that it has entered into a stock purchase agreement to acquire Atlas Copco AB’s electric power tool and accessory business, which is currently conducted through Milwaukee Electric Tool, AEG, Drebo. The transaction, which is subject to regulatory clearances and customary closing conditions, is expected to close before the end of 2004 with an estimated worth of $626.6 million on a debt-free basis.