E-Z-GO Acquires Tug Technologies Corporation

The TUG Technologies Corp. M1A tow tractor is used at airports.

The TUG Technologies Corp. M1A tow tractor is used at airports.

E-Z-GO recently announced the acquisition of Tug Technologies Corporation, a manufacturer of ground support equipment for the aviation industry. TUG Technologies Corporation, based in Kennesaw, Georgia, manufactures ground support equipment servicing airlines, air-freight companies, ground handlers, government agencies and airports worldwide. TUG’s extensive product line includes cargo tractors, belt loaders, tow tractors, pushback vehicles, air-starts, ground power units, and mobile heating and air-conditioning units. The company was acquired from a New York based private equity firm but their manufacturing is based in Kennesaw, GA along with approximately 200 people. The terms of the acquisition were not released. Learn More:  Marketwatch.com

Comment:  The acquisition makes sense for E-Z-GO on a number of fronts. They already serve the same markets with E-Z-GO and Cushman vehicles but for different applications with minimal overlap and they are also both Georgia based companies. The greater resources that E-Z-GO has at it’s disposable in terms of product development, manufacturing expertise, sales force and existing relationships should help grow the company. Tug Technologies is a strong brand in their markets that can be leveraged for new products and new markets.

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