GRAND RAPIDS – Knape & Vogt has acquired the assets of Diamond Storage Concepts LLC, marketers of the Hyloft brand of storage products. The acquisition, the second in two days for the hardware and storage-related components company, was announced Jan. 3.
Knape & Vogt said integration activities for the companies would begin immediately.
“The acquisition of Diamond Storage Concepts and the Hyloft brand of products adds exciting new products to KV’s line of garage and utility storage products business” Knape & Vogt President and CEO Peter Martin said in a statement. “Garage storage is one of the fastest growing categories in home storage and organization. The addition of Hyloft products and the Diamond Storage team to our company will provide opportunity to further penetrate this important category.”
Hyloft ceiling mounted overhead storage products and wall mounted shelving and tire storage products are sold in retail outlets, online and through professional garage storage installers.
Mike Mikich, general manager of the Las Vegas-based Diamond Storage Concepts, said in a statement, "We are excited to join forces with Knape & Vogt to grow the Hyloft brand. Our combined resources will allow us to reach new customers and rapidly develop the new products we have recently launched.”
The acquisition of Diamond Storage Concepts follows on the heels of late yesterday's announcement of Knape & Vogt's purchase of the Furniture Components Operations of CompX International Inc. for approximately $59 million. Chief in that acquisition are the Waterloo Furniture Components and Dynaslide divisions.
Located in Kitchener, ON, Waterloo Furniture Components manufactures ball-bearing slides for use in office furniture and other products. The company also provides components for ergonomic office and healthcare workstation products, including adjustable keyboard platforms, computer monitor supports, wall mounted workstations, and other accessory products.
Hardware producer Dynaslide is located in Taipei, Taiwan.
“The acquisition of Waterloo Furniture Components and Dynaslide will provide Knape & Vogt with access to new customers and markets and an expanded presence in our office OEM and distribution channels” Martin said in a separate statement. “The combined resources of KV and these two companies provide an enhanced slide product line, a full array of ergonomic accessory products and an exciting new growth opportunity through the addition of wall mounted workstation products for hospitals, medical clinics, and other health care providers. Our rapidly growing international business will be enhanced by combining Dynaslide’s wide range of slide products with GSlide’s existing product line allowing for business expansion within both companies’ current customers and through new customers around the world.”
Based in Grand Rapids, MI, Knape & Vogt manufactures and distributes functional hardware, storage-related components and ergonomic products, including drawer slides marketed under the KV and GSlide brand; KV kitchen and bath storage products; KV and John Sterling brand wall-attached shelving units, closet hardware, and specialty hardware products; and Workrite brand ergonomic office products. Its hardware and components are sold to OEMs as well as distributors, office products dealers, hardware chains and home centers throughout the United States and Canada.
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