George Risk Industries Acquires Assets, Business of Labor Saving Devices
Labor Saving Devices primarily serves the audio/visual, electrical, communications and security alarm markets.
KIMBALL, Neb. — George Risk Industries (GRI) has acquired the assets and the business of Labor Saving Devices, a wire installation tool designer and manufacturer.
The Commerce City, Colo.-based company primarily serves the audio/visual, electrical, communications and security alarm markets.
GRI President and CEO Stephanie Risk-McElroy says, “We are excited about adding the LSDI line to the GRI family. Over the years we have looked at a variety of companies but when Roy Bowling presented the offer to acquire, the two product lines seemed to be a natural fit. The LSDI product line complements our existing product line and will allow GRI to expand into other industries, including cable, communications, etc. We are both home grown companies with a strong commitment to quality and customer service. Mr. Bowling was an early member of the board of directors at GRI and an industry innovator. We look forward to expanding our product line and markets both state side and internationally.”
Roy Bowling, owner and Chairman of Labor Saving Devices and SSI Hall of Famer says, “I am pleased and proud to hand over the 35-year legacy of Labor Saving Devices, Inc. to such a high-quality company. As a former board member, I have great respect for the history and tradition of George Risk Industries, Inc. I would not have sold my business to anyone else. I predict great things will happen as we transition to GRI’s larger scale, publicly held platform.”
The transaction was signed and closed on Oct. 10, 2017.
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