Retrotech acquired by Savoye
Retrotech has been acquired by French firm Savoye. Retrotech, a leading engineering services firm specializing in warehouse automation was acquired in its entirety by a subsidiary of Groupe Legris, a $500 million diversified industrial company. The DAK Group served as exclusive investment banker and financial advisor to the privately held Retrotech initiating the transaction and managing the divestiture process.
Retrotech, founded in 1985 outside Rochester, NY, is considered a pioneer in the modernization of existing warehouse handling systems and in the design, integration and installation of new projects. Known for its strong representation in large scale distribution centers in the United States, particularly in the personal products, food & beverage and technologies industries, Retrotech’s customized solutions are in high demand to accommodate increasingly large numbers of SKUs, shortened delivery times, and objectives to reduce cost and human error while improving safety. Automated systems engineered by Retrotech enable more efficient use of existing warehouse space, and have been shown to reduce labor costs by up to 60 percent.
The acquisition marks a significant step in the global expansion strategy of Savoye, based in Rennes, France. Savoye, the European leader in the design and integration of equipment, systems, and software for warehouses and logistic centers, will now offer enhanced global engineering solutions, in addition to gaining an established footprint in North America. “Retrotech has earned a solid reputation for first rate engineering services and support that we can now offer to our North American customers,” says Jack LeVan, President of Savoye. “We look forward to building upon the Retrotech name and high level of service they provide.”