Hendricks Holdings Acquires Henry Technologies
Sep 28, 2005
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Hendricks Holdings Company, Inc. (Beloit, Wisconsin, U.S.) acquired 100 percent of the stock of Henry Technologies. Hendricks is owned by Ken Hendricks, founder of ABC Supply Company, which is one of the largest privately owned companies in the U.S. ABC Supply holds the highest Gallup rating in customer and supplier satisfaction.
Henry Technologies, Inc., headquartered in Woodstock, Illinois, U.S., is a 91-year-old, privately held supplier of components for commercial and industrial refrigeration and air-conditioning applications. It markets its products worldwide to refrigeration systems OEMS, as well as wholesalers and contractors. It has manufacturing locations in Chatham, Illinois; Brantford, Ontario, Canada; and Glasgow, Scotland.
Henry products are sold under the Henry Valve, AC&R and Chil-Con brand names. Henry says it has consistently emphasized and invested in product development engineering, making it a leader in the introduction of new products for the refrigeration industry. The Hendricks acquisition will enable Henry to aggressively pursue a growth strategy and expand into new markets and product areas.
A new management team is in place to drive the growth strategy, including Charlie Graham, executive vice president of operations, and Kellee Ann Thomas, senior vice president of sales and marketing. The new strategy includes establishment of a distribution center in Beloit to service the North American refrigeration wholesale market.
"We are excited about the opportunity to acquire a company with a well known quality product, and the opportunity to see Henry return to a level of excellence focused on customer service, sound business practices and a great place to work," says Ken Hendricks.
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