Deal Details

Storage Solutions Is Acquired by Jungheinrich

Industrial

Storage Solutions, owned by Merit and MFG, sale to Jungheinrich

Summary

Storage Solutions, LLC (“Storage Solutions” or the “Company”), a company owned by Merit Capital Partners (“Merit”) and MFG Partners (“MFG”), was acquired by Jungheinrich AG (“Jungheinrich”) (XTRA:JUN3). The transaction is subject to various regulatory approvals and customary closing conditions.

Baird served as the exclusive financial advisor to Storage Solutions on this transaction.

About

Storage Solutions is a warehouse design, automation and integration solutions provider with 45 years of experience in delivering turnkey solutions to customers in 3PL, retail / eCommerce, industrial, food & beverage and consumer products end markets. The Company also offers vertically integrated service lines including in-house logistics and installation, ensuring on-time project completion and providing value-added services, including workflow optimization, engineering and permitting. For 2022, Storage Solutions generated revenues of approximately $290 million and adjusted EBIT of approximately $34 million. Storage Solutions is headquartered in Westfield, Indiana.

Merit Capital Partners is a private equity firm uniquely positioned to provide flexible capital solutions. Merit partners with business owners, management teams and independent sponsors to provide capital for buyouts, recapitalizations, and acquisition financings. Merit was founded in 1993 and is headquartered in Chicago, Illinois.

MFG Partners is a private equity firm that makes control investments in family and founder-owned industrial, manufacturing, distribution, and business-to-business services companies in North America. MFG was founded in 2016 and is headquartered in New York, New York.

Jungheinrich AG is a German intralogistics provider that has been advancing the development of innovative and sustainable products and solutions for material flows for 70 years and is committed to creating the warehouse of the future. Jungheinrich has a global operating network, including 11 production plants and 41 service and sales companies. Storage Solutions’ complementary footprint will add a strategic foothold for Jungheinrich in the fast-growing U.S. warehouse automation market. Jungheinrich is headquartered in Hamburg, Germany.

Industrial

Storage Solutions, owned by Merit and MFG, sale to Jungheinrich