Carousel plans to acquire Atrion

ATRION INC. CEO Tim Hebert said his company's acquisition by Carousel Industries of North America Inc. will create the largest information technology company in the state and one of the largest in the country. / PBN FILE PHOTO/RUPERT WHITELEY
ATRION INC. CEO Tim Hebert said his company's acquisition by Carousel Industries of North America Inc. will create the largest information technology company in the state and one of the largest in the country. / PBN FILE PHOTO/RUPERT WHITELEY

EXETER – Carousel Industries of North America Inc. plans to acquire Atrion Inc., a move expected to create what one of the CEOs said will be the largest information technology company in the state and one of the largest in the country.
Financial terms of the acquisition, which is expected to take place early in the third quarter, were not disclosed.
As a result of the acquisition, the company will have more than 1,300 employees nationwide and approximately $525 million in annual revenue.
CEOs from the two privately-held companies, in a conference call, said they had been talking about merging for some time.
“Both of us have had a tremendous amount of success individually over the last 20 to 30 years. We feel the market will benefit from a combined company,” Carousel CEO Jeff Gardner said.
Gardner said he and Atrion CEO Tim Hebert began seriously talking about an acquisition nine or 10 months ago.
Hebert said both he and Gardner are focused on growing the business.
“We felt we would accelerate each other’s growth by coming together,” Hebert said.
“This is good for the state of Rhode Island … what we’re creating here will become one of the largest IT service companies in the country … and the largest IT company in the state,” Hebert said.

The companies will continue to operate in their respective locations and no changes to personnel are planned, the CEOs said. One change will be that Atrion will now be known as a Carousel company.
Gardner and Hebert also will keep their current titles.
Atrion, based in Warwick, has approximately 300 employees, with 250 based in Rhode Island and the remainder either working remotely or at the company’s Flemington, N.J., location, Hebert said.
Carousel has 1,100 employees companywide at 30 locations throughout the U.S., including approximately 260 in Rhode Island.
After the acquisition, the two companies will have nearly 500 employees in the Ocean State.
Carousel had $385 million in revenue in 2015, while Atrion had $120 million in revenue that year.
Carousel, founded in 1992, specializes in communication and network technologies, professional and managed services, and cloud solutions, and 30-year-old Atrion is an IT firm focusing on networking, applications and integrations and data center solutions.
James Marsh, Carousel’s chief revenue officer, said combined, the two companies will be “better equipped to deliver a more compelling customer experience with a more personal focus and differentiated services.”
“This acquisition positions Carousel to deliver the best possible business outcomes to our customers and to become a truly indispensable business partner,” Marsh said in a statement.

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