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Greenlee Textron Acquires Sherman & Reilly, Inc.: Move broadens position in utility marketplace

Greenlee Textron has acquired Sherman & Reilly Inc., a manufacturer of underground and aerial transmission and distribution products in a strategic move to broaden its position in the utility segment.

Rockford, IL – May 1, 2013 - In a strategic move to broaden its position in the utility segment, Greenlee, a Textron Inc. (NYSE: TXT) company, announced today it has acquired ownership of Sherman & Reilly, Inc., a manufacturer of underground and aerial transmission and distribution products based in Chattanooga, Tennessee.

“Sherman & Reilly is an acknowledged leader in heavy pulling products for distribution and transmission applications,” said Scott Hall, President, Textron Industrial Segment and Greenlee. “Like Greenlee Utility, the company has a strong brand built on innovation and service to the utility professional. S+R is a logical complement to our Greenlee Utility® and Gator®products and will significantly expand Greenlee’s presence in the utility segment.”

“We are excited to be joining the Greenlee Textron family,” said Mike Dunn, general manager of Sherman and Reilly. “The combined strength of our brands, along with Greenlee’s established presence in the utility channel will further accelerate our growth and provide new opportunities for our talented employees.”

Sherman & Reilly is the leading US manufacturer of pulling and stringing equipment for the power utility segment. The company currently employs 110 people and will join the Greenlee® family of brands alongside Greenlee®, Klauke® and Greenlee CommunicationsTM. In addition to its portfolio of pulling products and accessories Sherman and Reilly will continue to manufacture a range of cable installation blocks and distribute fiber-optic blowing systems for the telecommunication market. Sherman and Reilly will become a separate business unit within Greenlee, led by Dunn.

About Greenlee
Greenlee is known as a global leader in the professional tool category. The Rockford, Illinois-based company develops high quality innovative products distinguished by customer-driven design and differentiated by supply chain excellence. Greenlee also leverages its powerful brands such as Greenlee Communications, Greenlee Utility, and Klauke in the electrical, construction and maintenance markets worldwide. More information is available at www.greenlee.com.

About Textron
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems.

Sherman and Reilly
Sherman + Reilly has been a leading manufacturer of tools and equipment for underground and aerial transmission, and distribution of electrical power and communications systems, including a complete line of bundle blocks, pullers, tensioners and reel trailers. Telecommunications products include fiber Cablejet, Superjet and Microjet cable “blowing” equipment.

CONTACT:
Kim Schleiff, Director of Marketing and Communications
Greenlee Textron, Inc.
4455 Boeing Drive, Rockford, Illinois
61109-2988, USAT
Phone: (401) 473-9494
E-Mail: kschleiff@greenlee.textron.com

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