KION brand Egemin Automation acquires Retrotech
Acquisition to strengthen expertise in fast-growing market for automated warehouse systems in North America.
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The KION Group has signed an agreement to purchase the company, which is valued at around $40 million, with Savoye S.A. of France.
Retrotech, based in Rochester, N.Y., provides a wide range of solutions for integrating and modernising complex intralogistics systems. Retrotech specializes in systems design, customized warehouse control software and stacker crane modernization and retrofits to ensure that warehouse systems remain in good working order. It has around 140 employees and generated revenue of approximately $70 million in 2015. Retrotech will be held by Egemin Group Inc., based in Holland, Mich., and be an operative part of Egemin Automation. The Retrotech brand will be retained and continue to be used in the USA.
“Retrotech, with its excellent reputation and industry-leading expertise in the integration of intralogistics systems, is the perfect complement to strengthen the automation solutions currently being supplied by our brand company Egemin Automation in the USA,” said Gordon Riske, CEO of the KION Group. “This deal is an important step on our journey to becoming a leading player in the fast-growing market for automated logistics and material flow systems. Automated intralogistics will play a crucial role in Industry 4.0, the digital transformation of manufacturing.”
Retrotech has customers in the food, consumer goods, pharmaceutical and automotive industries as well as in e-commerce and retail. The company was founded in 1985 and initially focused on retrofitting hand pallet trucks and crane systems with automation solutions.
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