Storage Solutions Acquired by German Firm for $375M

Storage Solutions Inc., a 45-year-old Westfield-based company, has been acquired by Germany-based Jungheinrich AG for $375 million, the companies announced Wednesday.

Jungheinrich signed a share purchase agreement with Chicago-based Merit Capital Partners, New York-based MFG Partners LLC and the management of Storage Solutions.

Merit Capital Partners and MFG Partners, both private equity firms, joined with Storage Solutions’ management team to purchase the company in December 2020 for an undisclosed amount.

Including its headquarters at 910 E. 169th St. in Westfield, Storage Solutions has 12 locations across the United States. The company employs about 170 people and provides racking and warehouse automation solutions.

Storage Solutions’ customers include companies in the third-party logistics, e-commerce, retail, food and beverage and industrial sectors.

Full Story Courtesy of Indianapolis Business Journal