Rack manufacturer Hannibal , which is part of steel products company Nucor, has announced the acquisition of Elite Storage Solutions as a new division of Hannibal, via acquisition by parent company Nucor.
According to Nucor’s April 5 announcement, the acquisition price was $75 million for Elite Storage Solutions, which employs 180 full-time teammates at locations in Monroe, Georgia, and Chandler, Arizona.
Elite Storage Solutions will complement the full range of services from manufacturing and design to installation of storage solutions offered by Hannibal, explained Eric Andres, national sales manager at Hannibal. The acquistion of Elite provides additional manufacturing footprint and further expands the largest rack manufacturer in the United States, he added.
“We think this move is highly complementary, in that it provides coast-to-coast manufacturing capabilities,” said Andres. “Additionally, Elite has been very focused on continuing to provide turnkey solutions to their customer base, which builds upon our commercial strategy here at Hannibal,”
As part of NUCOR, Hannibal has access to every link in the supply chain ensuring continued resources to its clients and building on its reputation of quality rack and integration services, Andres added.
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