Emerson has sold Crystal Lake, Ill.-based Knaack, its jobsite, truck and van storage business, to Greenville, Pa.-based Werner Co., a maker of ladders and other commercial climbing and safety equipment.
Emerson announced Sept. 7 that it has sold Crystal
Lake, Ill.-based Knaack, its jobsite, truck and van storage business, to Greenville,
Pa.-based Werner Co., a maker of ladders and other commercial climbing and
safety equipment. The purchase price was $115 million.
Knaack is a unit of the Emerson
Commercial & Residential Solutions business. Its brands include the KNAACK
jobsite storage systems and WEATHER GUARD truck and van storage equipment. Werner
has manufacturing facilities in North America, Europe and Asia, specializing in
stepladders, scaffolding, extensions, multiladders, 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,”
saidCraig 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,” saidWilliam T.
Allen, president and CEO at Werner Co.