Intelligrated Completes Acquisition of FKI LogistexTuesday, June 23, 2009
CINCINNATI, OH — Intelligrated Inc., a leading American–owned supplier of integrated material handling systems, announced today that it successfully completed the purchase of FKI Logistex operations located in North and South America from Melrose plc (LSE: MRO), a UK–based specialist manufacturing investment group. The strategic combination was definitively signed on May 28 and was made final on June 19.
The company also announced that Steve Ackerman, former president of FKI Logistex North America, has been appointed executive vice president. Ackerman has over 28 years of experience in the automated material handling industry and has held an executive management role for FKI Logistex or one of its companies for over a decade.
Throughout the transition, customers will remain the top priority. The combined company will continue to manufacture and support FKI Logistex products, including loop sorters, palletizers and fulfillment systems, as well as other products and services traditionally offered by both Intelligrated and FKI Logistex.
Intelligrated will be headquartered in Cincinnati with key systems operations in California and Maryland and manufacturing plants in Ohio, Missouri and Kentucky. The company will also maintain sales and operations offices in 10 states in addition to a sizeable presence in Canada and Mexico.
Intelligrated is privately owned by Gryphon Investors, its majority shareholder, Tudor Ventures and Management.View all Industry News