We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • SUBMISSIONS
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
Home » Jungheinrich buys Indiana warehouse automation vendor for $375 million

Jungheinrich buys Indiana warehouse automation vendor for $375 million

Deal gives German forklift and logistics solutions provider a strategic foothold in U.S. market.

storage warehouse-storage-automation-design-project.jpeg
January 25, 2023
Ben Ames
No Comments

The German forklift vendor and logistics solution provider Jungheinrich AG said today it will acquire Indiana-based Storage Solutions group for $375 million, saying that buying the provider of racking and warehouse automation solutions would give it a strategic foothold in that fast-growing U.S. sector.

Hamburg, Germany-based Jungheinrich agreed to buy the company from its owners, the private equity firms Merit Capital Partners and MFG Partners, and from the management of Storage Solutions. The final price could eventually rise by the mid- to high- single digit percentage range if the Storage Solutions management team hits performance-based targets over three years following completion of the transaction.

Storage Solutions’ leadership seemed confident in their future success, based on a January 10 statement saying the firm had its sixth consecutive year of record growth in 2022, adding 60 employees and booking 29 contracted conveyor and automation projects. That growth brought the firm to a total of 170 employees with 2022 revenues of $290 million and profits of some $34 million.

In addition, Storage Solutions itself made two acquisitions during 2022, buying the Texas-based controls and automation engineering company EMIT Inc. and California-based SNC Solutions, a provider of pallet racking solutions.

Jungheinrich also noted that the acquisition will sit alongside and not have any impact on the existing partnership of Jungheinrich with Mitsubishi Logisnext Americas (MLA), which will remain the sole activity of Jungheinrich in the North American forklifts market.

“The acquisition of Storage Solutions is an important step in the implementation of our 2025+ strategy. It is an excellent opportunity to expand our geographic footprint in the U.S. and adds a strong strategic platform for growth in warehouse automation across the region,” Lars Brzoska, the Jungheinrich CEO, said in a release. “Storage Solutions is a well-established and successful business with an attractive customer base and an excellent management team. We see great opportunities in combining the warehouse and automation capabilities of both parties to the benefit of customers in the U.S. as well as our European customers with operations in North America.”
 

 

 

Warehousing
KEYWORDS Jungheinrich Storage Solutions
    • Related Articles

      Zebra buys AMR vendor Fetch Robotics for about $300 million

      WiseTech buys New Hampshire drayage and trucking visibility software firm for $230 million

      Jasci Software buys AMR vendor NextShift Robotics

    Ben Ames is Editor at Large and a Senior Editor at Supply Chain Quarterly?s sister publication, DC Velocity.

    Recent Articles by Ben Ames

    Target invests in “stores as hubs” strategy to navigate e-commerce surge

    Panel shares tips for managing a multi-generational workforce

    Data sharing is crucial lever to crack open port congestion

    You must login or register in order to post a comment.

    Report Abusive Comment

    Most Popular Articles

    • Wabash opens trailer manufacturing facility in Indiana

    • Six defining challenges of omnichannel fulfillment

    • Postal advocacy group says “excessive” July 9 stamp price hike will hurt consumers

    • California bill would require large corporations to disclose their greenhouse gas emissions

    • Panorays extends risk management throughout the digital supply chain

    Featured Video

    8757b894 244c 4429 b5d8 e6df7b479d82

    Penalties for Wood Packaging Material Violations

    Viewer Contributed
    Our Services Include: Customs Broker Denver Freight Forwarder Denver Global Logistics Denver Cargo Insurance Denver Customs Bond Denver Customs Clearance Denver Customs Duty Denver Isf Filing Denver More details: Phone : 281-445-9779 Email: info@gallaghertransport.com Website: gallaghertransport.com

    FEATURED WHITE PAPERS

    • Five questions to ask before electrifying your indoor forklift fleet

    • Operator assist system myths busted

    • Three layers of forklift safety: Promoting operating best practices

    • The Complete Guide to Automated Packaging

    View More

    Subscribe to Supply Chain Quarterly

    Get Your Subscription
    • SUBSCRIBE
    • E-NEWSLETTERS
    • ADVERTISING
    • CUSTOMER CARE
    • CONTACT
    • ABOUT
    • STAFF
    • PRIVACY POLICY

    Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing