Orrick is advising industrial technology company Trimble (NASDAQ: TRMB) on its definitive agreement to sell its Time and Frequency, LOADRITE, Spectra Precision Tools and SECO accessories businesses to Precisional LLC, an affiliate of private equity firm The Jordan Company (“TJC”).
The divestiture is in line with Trimble’s strategy to focus on areas core to its long-term growth. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2022. Financial terms were not disclosed.
The Orrick team advising Trimble is led by Ramy Shweiky and Max Hyatt, with significant contributions from Stephen Chao, Daniel Healow, Sarah Schaedler, Neil Bhatt, Kimberly Loocke, Jennifer Clarke-Smith, David Medina, Ryan McKenney, Matthew Rose, Emily Blanco, Nnaemeka Anyanwu, Victor Oriard, Daniel Yost, Matthew Coleman, Amy Ray, Eric Wall and Matthew Gemello.