JULY 22 I GEMEINHARDT I ACQUISITION
Angel Industries Picks Up Gemeinhardt
On June 25, Angel Industries acquired all assets of Gemeinhardt, including its Elkhart, Ind.-based manufacturing facility. This relationship is designed to create growth in Gemeinhardt's flute sales. During the past few years, Gemeinhardt has been managed through Angel Industries in Taiwan.
According to a statement from Gemeinhardt, the acquisition restores stability to the company and provides confidence and investment for future product developments. It will also generate new business and revenue opportunities.
"We have been working [toward] this day for the past few months with the goal of introducing these new arrangements seamlessly and thus ensure continuity for our manufacturing, staff, customers and suppliers," said Dave Pirtle, president and CEO of Gemeinhardt. "This really is great news for Gemeinhardt. I've been here for over 29 years and at last can feel that this totally secures our future."
"It became obvious some time ago that Gemeinhardt and Angel could be a good fit together," said Frank Yang, speaking on behalf of Angel Industries. "Gemeinhardt customers demand the highest quality, and we are delighted to be able to meet this challenge for many years to come."