Material handling systems manufacturer Intelligrated acquired rival FKI Logistex Group for $40 million.
Cincinnati-based Intelligrated roughly tripled its size by purchasing St. Louis-based FKI’s North American and South American operations from its parent, United Kingdom-based Melrose plc. It will also have facilities in 10 states, as well as Canada and Mexico, according to a press release.
The combined company will manufacture and support sorters, palletizers, fulfillment systems and other material handling products and services. Former FKI Logistex President Stephen Ackerman will remain in a senior management role.
“This agreement signals a new era for us all, bringing together our respective resources, technologies and expertise, becoming the leading single-point provider of automated material handling solutions,” said Ackerman.