After two years of discussions, automated storage equipment supplier Kardex Systems has been acquired by holding company Rack Enterprises Inc. Kardex supplies vertical lifts, vertical lift modules and related equipment.

Rack Enterprises' Ronald J. Miller, who will become chairman at Kardex, and his family have been involved with Kardex and its predecessor Remington Rand for two generations in top management positions. It is anticipated that one of Miller's other companies, REM Automation & Custom Engineering, which also supplies automated storage systems, will be a close partner with Kardex. "We are very encouraged by the goals and objectives, and welcome this acquisition wholeheartedly," says Ron Nienhuis, Kardex president. All current Kardex employees will continue under the new ownership.