Private equity firm Woodside Capital said Tuesday that it has completed the acquisition of Rehrig International and United Steel & Wire, both involved in the manufacturing of shopping carts and other material handling equipment for retailers.
The combined company, Rehrig United International, will be headquartered in Richmond, Va., with manufacturing locations in Virginia and Battle Creek, Mich.
“As stand alone entities, Rehrig International and United were solid, but underperforming, competitors in this industry,” said Benjamin Procter, a Partner at Woodside Capital. “As a combined platform, Rehrig United creates an attractive investment due to a significantly improved competitive position and cost structure. We're excited about the future of the combined business, and look forward to partnering with this outstanding management team in this endeavor."
The new company's product categories include: shopping carts, hand baskets, and material handling equipment such as flat carts, dollies, inventory management and garden center carts for the larger and heavier merchandise offered by certain retailers.