Milwaukee-based CH Coakley has acquired New Berlin-based StorX Inc. and Waterford-based Telestar.
Terms of the transaction were not disclosed. One of the companies was purchased with cash and the other will be paid out over time, said Mike Coakley, president of CH Coakley.
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A CH Coakley truck in front of the Milwaukee County Courthouse.[/caption]
CH Coakley offers third party logistics, commercial moving, warehousing, order fulfillment and document management. Founded in the late 1800s, the family company has grown to eight divisions and more than 100 employees nationwide.
The acquisition of the two firms will expand CH Coakley’s offerings, the company said in a press release.
“This is a tremendous opportunity for both our staff, who will benefit from the opportunities these companies will present, and clients, who will now enjoy expanded single-source solutions to our current service offerings,” Coakley said. “Our focus this year has been to present our clients cohesive solutions for their business needs, and the addition of StorX and Telestar certainly helps with that objective.”
StorX, founded in 2004 by Mike and Brenda Landwehr, specializes in warehousing and trucking. All of the StorX’s clients, its 10 employees and its equipment are included in the transaction. The Landwehrs will remain with the company.
Telestar provides installation, expansion and support for telecommunications companies. Owner Sean Marshall has more than 20 years of experience in telecommunications engineering and installation. The company has three employees.
“Sean’s knowledge and talent will enable us to not only continue offering warehousing to our telecommunications clients, but we’re now able to bring installation and maintenance services to the table as well. This is a perfect example of the single-source solutions we plan to extend to our clients throughout all of our division,” Coakley said.
The Telestar acquisition closed a couple of months ago and StorX closed a couple of weeks ago, he said. The integration of the companies is expected to be complete by Aug. 1.