SOURCE: Excel Storage Products
June 11, 2010 16:00 ET
Excel Storage Products to Acquire W.C. Cardinal Co.
Acquisition of Cadiz, Ohio Company Will Expand Capacity for Leading Rack Systems Manufacturer
EAST STROUDSBURG, PA--(Marketwire - June 11, 2010) - Excel Storage Products LP, one of the largest rack systems manufacturers in the United States, has signed a letter of intent to acquire W.C. Cardinal Company, Inc. of Cadiz, Ohio.
The acquisition of Cardinal will extend the company's product offerings and service network to a broader base of customers.
With the impending purchase of Cardinal and the 2009 acquisition of Lodi Metal Tech, Excel Storage Products continues its growth strategy to become the market leader in rack systems manufacturing.
"As part of Excel Storage Products, Cardinal will continue to offer high-quality cost-effective roll-formed, structural and cantilever rack systems while keeping customer service the number-one priority," said Dave Zenger, President and CEO of Excel Storage Products. "We look forward to continuing to serve Cardinal's customers."
Cardinal Owner Harry "Chip" Higgins is pleased to be joining forces with Excel Storage Products. "With the size, capabilities and extended reach of Excel, we will be able to better serve and support our customers," he said.
Excel Capital Partners, the parent company of Excel Storage Products, is responsible for the acquisition. "Cardinal is the perfect fit to help Excel Storage Products continue to invest and expand its presence in the rack systems industry," said Bruce Cassidy Jr. of Excel Capital Partners.
Details of the financial transaction have not been disclosed.
Excel Storage Products LP is a leading manufacturer of a full line of structural and roll-formed designed rack systems and components, and structural mezzanine systems for retail, industrial, and distribution applications. Its manufacturing facilities in Pennsylvania, South Dakota, California and Ohio serve customers across the United States with fully compatible rack systems. With 42 years of experience in the manufacturing of rack systems, Excel Storage Products is well positioned to deliver cost-effective designs, products and freight advantages. Visit Excel Storage Products on the Web at www.esprack.com.