Rack: Boston Rack and Base Manufacturing complete merger agreement
By Staff -- Modern Materials Handling, 4/1/2009
Boston Rack International Inc. (www.bostonrack.com), a provider of warehouse storage solutions, is partnering with Base Manufacturing (www.basemfg.com), a full-service manufacturer of roll-form and structural storage products. The merger will create a first-of-its-kind, full-service integrator and warehouse storage solutions manufacturer to provide customers with a host of services.
“By merging with Base Manufacturing, we'll be able to join forces and provide our customers the quality, efficiency and depth of products that our competitors are not able to offer,” says Peter Murphy, Boston Rack's founder, president and chief executive officer.
Boston Rack and Base will operate as subsidiaries of a holding company, Elite Storage Solutions (www.elitestoragesolutions.co.uk), to continue taking advantage of brand identities within their marketplaces.
The merger comes as the result of months of collaboration between Murphy and Base president and chief executive officer Steve South. Murphy had long believed that combining Boston Rack with a manufacturer would be of great strategic value to customers. In Base Manufacturing, Murphy found the competitive labor force, the management team and a manufacturer that can produce roll-form and structural storage solutions.
In addition, to enhance customer service, the merger will provide both companies a larger sales force and network of resources, and a greater reach into the warehouse materials handling industry which would otherwise be harder to attain.
“Timing was very important to us, due to both our strengths exhibited in a declining market,” South says. “We felt the new combination would offer the industry a value that exceeds all others. In today's market, only the strong survive.”
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