Werner buys Knaack
Acquires Knaack from Emerson for $115 million.
Emerson announced it has sold Knaack L.L.C., its jobsite, truck and van storage business, to Werner Co. for $115 million.
Based in Crystal Lake, Illinois, Knaack is a unit of the Emerson Commercial & Residential Solutions business. Knaack’s brands include the Knaack jobsite storage systems and Weather Guard truck and van storage equipment.
Werner, headquartered in Greenville, Penn., has manufacturing facilities in North America, Europe and Asia, specializing in stepladders, scaffolding, extensions, multi-ladders, stepstools, attic/loft ladders, mobile towers, and ramp and truck racks.
“Knaack offers significant synergies for Werner across their customer base and their served industries,” said Craig W. Ashmore, Emerson executive vice president for planning and development. “We are constantly evaluating our product and business mix to drive long-term value, and this is in line with that ongoing strategy.”
Ashmore said Emerson will work closely with Werner and Knaack to ensure a smooth transition.
“The union of Werner and Knaack creates a product portfolio that will allow us to leverage the broader company networks in manufacturing, distribution, sales and marketing to strengthen our position in the industrial/construction segment,” said William T. Allen, president and CEO at Werner Co. “This strategic acquisition will diversify our business, build on our existing global infrastructure and continue to create value to grow our company for our key stakeholders and employees throughout the world.”
Learn more at: www.wernerco.com and www.knaack.com.
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