Share On Social
Husqvarna Buys Tecumseh's Peerless
Husqvarna Outdoor Products recently bought the Peerless transmissions business, according to TecumsehPower Co. officials. The Peerless division, located primarily in Salem, Ind., with limited operations in Grafton, Wis., designs and manufactures transmissions for lawn and garden power equipment OEM customers, and aftermarket parts to OEMs and central warehouse distributors. Husqvarna is not acquiring any assets or operations of Tecumseh’s engine business.
The transaction is the latest in a series of major moves for the formerly major U.S. small engine maker: Tecumseh was sold to Los Angeles-based Platinum Equity in 2007, and last year informed its customers that the company would shut down manufacturing operations related to its engine business, a process that was largely completed by the end of 2008.
Also, the past two years have seen a power struggle between Tecumseh’s founding family and new management for control of Tecumseh’s board following former Tecumseh President Todd Harrick’s removal in January 2007. Meanwhile, Tecumseh has sold off all but its compressor division in an attempt to return to profitability.
According to TecumsehPower Co. president and CEO Rudolf Strobl, the sale of Peerless comes “in response to a very difficult situation. We are executing an orderly plan that protects our customers, creates value for our investors and preserves as many jobs as possible,” he says. “The successful divestiture of the Peerless transmissions business was a critical step in that process and is good news for everyone involved.”
Latest News
Rotary Announces New Additions to Sales Team
Rotary Corporation has appointed two new territory sales managers as it expands the sales division to meet the needs of a growing dealer network, according to an announcement by Mark Smith, Chief Sales Officer.
Lightspeed DMS Appoints Brian Provost CEO
Lightspeed DMS LLC, a recreational dealer management software provider, has announced that Brian Provost has been appointed chief executive officer, succeeding Kris Denos. Lightspeed offers a comprehensive, modern dealer management software platform and suite of solutions used by 3,800 North American locations. Lightspeed is a subsidiary of Brookfield Business Partners, the flagship listed vehicle of Brookfield Asset Management’s Private Equity Group. Brookfield Partners owns and operates businesses like Lightspeed that provide essential products and services and which benefit from a strong competitive position.
FEATURED ARTICLE: 12 Keys To Hiring Sales Reps
Article by John Chapin – With the current hiring systems companies use, only about 20% of salespeople work out long-term. Even if you’re at 50%, is it really worth all the time, effort, and money that you waste hiring the wrong salespeople? Below are some tips to try to get a 90 to 95% hiring success rate and save thousands of hours, headaches, and, over the long-term, likely hundreds of thousands of dollars.