FKI Logistex (St. Louis) sold its White Systems unit in a management buyout in conjunction with Management Capital, LLC.
The sale is "part of the global realignment of our products and markets. It became apparent that White Systems was no longer a part of our strategic core product set," said Steve Ackerman, president, FKI Logistex North America. "To this end, we sought a way to help White Systems grow outside of FKI. Management Capital, LLC and White management answered the call. We will ensure support of existing systems, and will work together with the new White Systems team on behalf of FKI Logistex customers. This is simply another step as we focus on the further growth and globalization of FKI Logistex."
"White Systems will continue to provide industry-leading storage and retrieval solutions," says John Molloy, president and chief operating officer of the New White Systems, Inc.
Source: FKI Logistex
