Lanco has sold three divisions to to Remprex
Lanco International, parent company of Mi-Jack Products, Inc. of Hazel Crest, Illinois, has announced the sale of its Technical Services International (TSI), Hubert Line and Hubert Rail companies to Remprex, LLC.
Terms of the sale are confidential.
Frank Calomino, executive vice president of Lanco International, says: "We recognised early on that Remprex would represent an optimal path forward from a perspective of increased growth and innovation as one of our existing trusted partners and we are excited for both companies."
Remprex is a high-growth, technology-enabled company that has expanded rapidly in the last decade into many areas of the transportation ecosystem, including lift operations, engineering, equipment management, IT services and remote operations.
Remprex president and CEO Remy Diebes says the purchase forms part of their strategy to expand services in the rail and port facility space. He sees "unlimited growth opportunities" ahead.
Mi-Jack Products will continue to concentrate on building its manufacturing portfolio with expanded product lines in rail, port and industrial markets. "In addition, our efforts to provide parts and service support to our customers will be enhanced with state-of-the-art processes to deliver the best support for all our industries," Calomina adds.