Storage Solutions to be Acquired by Jungheinrich AG
Jungheinrich AG to acquire Storage Solutions group to add strategic foothold in fast-growing U.S. warehouse automation market.
WESTFIELD, IND. – German intralogistics pioneer Jungheinrich AG (“Jungheinrich”) has signed a share purchase agreement with Merit Capital Partners, MFG Partners and the management of Storage Solutions for the acquisition of 100% of the share capital in the Indiana-based Storage Solutions group (“Storage Solutions”), a leading provider of racking and warehouse automation solutions in the U.S., to gain enhanced access to the attractive U.S. warehousing and automation market.
Storage Solutions, headquartered in Westfield, Indiana, is a U.S. warehouse design, automation, and integration company with 170 employees and 45 years of experience in delivering turnkey, best-fit solutions to customers. Based on a technology-agnostic business model, the company has achieved a strong position in the attractive U.S. warehousing market, which benefits from robust long-term growth dynamics. It offers unique vertically integrated service lines with in-house logistics and installation teams, ensuring on-time project completion and providing value-added services, including workflow optimization, engineering, and permitting.
About Jungheinrich
Jungheinrich is one of the world’s leading providers of intralogistics solutions. It already has its own established warehousing and automation business outside the U.S., with deep expertise and a successful track record. As a pioneer in the sector, the family business is committed to creating the warehouse of the future – a great vision that both companies share.
For Jungheinrich, the acquisition is highly complementary to its global footprint and will further strengthen the company’s market position. It is a unique opportunity to enter a large and rapidly growing market segment with a strategic foothold in the U.S. The market coverage of Storage Solutions will provide Jungheinrich with access to key logistics hubs in the U.S. and the opportunity to support the existing European customer base in this market. Acquiring a growth platform in the U.S. also provides additional mid-term potential to build a presence in the adjacent countries of Canada and Mexico. The acquisition will sit alongside and not have any impact on the existing partnership of Jungheinrich with Mitsubishi Logisnext Americas (MLA), which will remain the sole activity of Jungheinrich in the North American forklifts market.
Statement from Kevin Rowles, Chief Executive Officer of Storage Solutions:
“I am very excited that we will become part of the Jungheinrich family. We see a perfect match of two highly complementary businesses, and we share similar values. I am convinced that together we will take our business to the next level – for the benefit of our customers, our employees, and our company.
“Storage Solutions has established solid capabilities in racking as well as automation and digitalization. Our strong position in the U.S. warehousing market today is based on three pillars: a technology-agnostic business model enabling best-fit customer solutions with multi-OEM capabilities; unique vertically integrated service lines with in-house logistics and installation teams; and our proven track record in capturing market growth opportunities. These three pillars have built the solid foundation for our long-term success. Our approach remains unchanged: we will continue delivering the best warehouse and automation solutions to our customers and offering a broad range of OEM technologies.
“I am personally pleased to see how much our new partner Jungheinrich appreciates our well-established and successful technology-agnostic business model, as well as our attractive customer base. And how much they value our management team that they are keen to retain. The entire management team and the whole Storage Solutions family are fully committed to creating our future together with Jungheinrich. We are looking forward to developing and growing the company further, to remain our customers’ valuable and trusted long-term partner – with an enhanced set of turnkey, best-fit solutions.”
