Metso has signed an agreement to acquire Tedd Engineering, a privately owned company which specialises in automation, control systems and electrical solutions for mobile equipment and aftermarket, primarily focusing on the aggregates business. Tedd Engineering employs approximately 70 employees and it is based in Chesterfield, UK. Its sales in the financial year that ended in June 2023 were approximately GBP15-million.
“We are very happy to welcome Tedd Engineering to Metso. The acquisition clearly strengthens our capabilities to utilize digitalisation and automation in our mobile equipment business and especially in the aftermarket. We are committed to serving all of Tedd Engineering’s 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,” says Markku Simula, President, Aggregates business area at Metso.
“Beyond Metso’s 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’s McCloskey brand already for several years and coming together will give us new opportunities to speed up our electrification and digitalisation programs,” he continues.
“Metso 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,” says Richard Hooper, CEO of Tedd Engineering.
The acquisition is expected to be closed during Q4 2023. The parties have agreed not to disclose the transaction value, which has no material impact on Metso’s financials.
