Torquest Closes on 3M Traffic

3M (NYSE: MMM) has completed the sale of its Opticom Priority Control Systems and Canoga Traffic Detection businesses to TorQuest Partners, a Toronto-based private equity firm. No financial terms were disclosed. TorQuest formed a new combined company based in St. Paul, Minn., led by Rick Sachse, who previously ran the businesses for 3M. www.torquest.com