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.
Source: Emerson
