Stevens Industries Acquire LSI Corp., Online Auction For All Machinery Announced
LSI Corporation of America, a Minneapolis medical casework manufacturer, has been acquired by Stevens Industries, Inc., and an online auction of all machinery has been announced right after the acquisition.
Stevens Industries moves into the medical casework segment, acquiring LSI Corp. https://t.co/HPYVhDrfiU pic.twitter.com/OJxfhRRXcP
— Woodworking Network (@WoodworkingBiz) March 2, 2016
LSI stopped its products after 48 long years in the education and medical casework business, Stevens Industries says, and adds to continue the production of LSI-branded product in a Teutopolis, Illinois, facility.
The president of the Stevens Industries, Todd Wegman, said that LSI had been a go-to brand for architects in the commercial casework industry since the 1970s, reports Woodworking Network.
“This acquisition is a huge step forward for Stevens Industries as LSI has been a well-known name in the architecturally-designed cabinetry business for many years.
Many years of years of strategy and planning have led us to this point.”
Wegman also says the following.
“We have actively recruited talented people for sales, construction project management, estimating, product design, production, engineering and installation positions.”
“New technology and additional production team members have increased our productivity to meet amplified order volume for table saw,” he added.
The company has also added 80 employees over the past 18 months and is believed to continue its expansion further. Lantz Cornett was added to the decorative panel sales group this year in January, while Sean McWherter joined the Stevens Advantage casework and millwork division to look after works in Texas. Currently, there are 450 employees working at the Stevens Industries.
Cornett looks excited to be working as the Wood Sales Representative, and he stated, “I feel fortunate to work for Stevens Industries, a reputable company that takes such great care of its employees. Growing up in the area, I always thought it would be nice to work for Stevens Industries and now here I am. I am very excited to get out and meet with our customers and I look forward to the opportunities to come here at Stevens.”
Mike Gibson, Vice President of Sales and Marketing for Stevens Industries, Inc., stated the following.
“We are very excited to bring the LSI brand into our existing line of Stevens Advantage Casework and Millwork. Our existing dealers and sales force are excited that the product is available through Stevens Industries. Architects and general contractors can be assured their LSI product needs are in good hands with our casework, countertop and millwork solutions.”
LSI Corp., who announced the news regarding selling an assortment they no longer need and are currently auctioned for sale on MachineryMax.com, which includes several brands including Homag, Ligmatech, Kaeser, Weima, Weeke, and Biesse, among others.
The bidding starts on Wednesday, March 9, at 12:00 p.m. CST and officially closes at 12:30 p.m. Machinery can be inspected on Friday/Saturday March 4-5 from 8 a.m. to 4 p.m. at LSI’s old facility at 2100 Xenium Lane in Minneapolis.
On the other hand, Lake Street Industries (LSI) started providing premium quality laminate casework and storage systems for the commercial market since 1968, and had worked for over 4 decades already before being acquired by the Stevens Industries.
Having delivered over 30,000 projects throughout the country and outside, LSI developed caseworks for laboratory, health care, commercial, and education applications while the company had architects and owners as their major customers.
LSI was a respected brand for architects in the commercial casework industry since the 1970s, according to Todd Wegman, president of Stevens Industries.
[Photo by Justin Sullivan/Getty Images]
