On heels of Atrion acquisition, Carousel acquires Dallas company

CAROUSEL INDUSTRIES of North America Inc., an Exeter information technology firm, said that it acquired Dallas-based SOURCE Inc.
CAROUSEL INDUSTRIES of North America Inc., an Exeter information technology firm, said that it acquired Dallas-based SOURCE Inc.

(Updated 11:57 a.m. and 9:02 a.m.)
EXETER – For the second time in recent weeks, Carousel Industries of North America Inc. has announced an acquisition.
Carousel, an information technology firm, said on Monday that it acquired Dallas-based SOURCE Inc., a move that combined with the pending acquisition of Warwick’s Atrion Inc., is expected to boost revenue to more than $550 million this year.

Acquisition terms were not disclosed.
SOURCE, which has $30 million in revenue last year, focuses on asset management and logistics, as well as technology refurbishment and repair, disaster recovery, e911 implementation and IT services. SOURCE is the 15th largest Avaya dealer in the U.S.
More than 100 SOURCE employees, including President Bryan Davis, will join Carousel immediately. A news release from Carousel states that the acquisition gives Carousel “an enhanced presence” in the Southwestern U.S., including SOURCE’s corporate headquarters in Dallas and sales offices in Texas and Missouri.
Bill Thompson, Carousel’s senior vice president of product and services, said there will be no changes regarding the number of employees for SOURCE or Carousel as a result of the acquisition. SOURCE employees will remain in Texas and Missouri. He said the acquisition of SOURCE allows Carousel “to add some additional depth” to the company’s portfolio.

“Thanks to the rapid adoption of wireless devices, unified communications has become one of the most dynamic segments of the overall IT industry. Through the SOURCE acquisition, Carousel continues to strengthen its delivery and integration of voice and data solutions to meet a nearly insatiable demand we are seeing from customers,” Jeff Gardner, CEO, Carousel, said in a statement. “SOURCE has earned a sterling reputation from both technology partners and clients as a nimble, customer-focused firm, and we are pleased to add their strong and respected management team, deep customer base and a new capability in inventory logistics.”

Davis said SOURCE is “witnessing a massive shift in how our clients adopt omni-channel communications across multiple platforms.”
“By joining Carousel, SOURCE will be better able to deliver the optimal applications, systems, and platforms customers require to navigate through these dynamic transformations and achieve their desired outcomes,” Davis said.
Earlier this month, Carousel announced plans to acquire Atrion, a move that one of the CEOs said will create the largest information technology company in the state and one of the largest in the country.
Financial terms of that acquisition, expected to take place in the late July or early August, also were not disclosed.
The Atrion acquisition is expected to boost revenue to $525 million this year for the company, resulting in more than 1,300 employees. The number of employees will grow to 1,400 with the addition of SOURCE.

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SOURCE will be known as SOURCE Inc., a Carousel company – just like Atrion.

SOURCE marks the 11th acquisition (including the pending acquisition of Atrion) since Carousel’s founding in 1992, according to Nikki Nemarich, Carousel’s vice president of marketing.

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