We are pleased to announce that effective August 1, 2011, the Wenger Corporation, based in Owatonna, MN signed an agreement to acquire J.R. Clancy, Inc. based in Syracuse, NY.
This is exciting news for employees and business partners of both companies. The Wenger Corporation and J.R. Clancy are long standing privately owned businesses with shared values, dedicated and loyal employees, great brands, strong heritages, and great reputations in the market place.
About Wenger Corporation
Founded in 1946 and headquartered in Owatonna, Minnesota, Wenger designs and manufactures specialized equipment and solutions for music education, performing arts, and related markets for both domestic and international clientele. Wenger offers acoustical products, chairs, classroom products, conductor's equipment, staging and risers, stands, storage products, fixed audience seating and orchestra pit fillers. Wenger offers products to elementary, secondary and higher education; performing arts theatres and other miscellaneous but adjacent markets. Wenger is a privately held company, which generates annual revenues in excess of $100 million.
About J. R. Clancy, Inc.
Founded in 1885 and headquartered in Syracuse, New York, J.R. Clancy designs, manufactures and installs theatrical rigging equipment and related hardware for use in theatres, concert halls, arenas, television studios, churches, auditoriums, convention centers, casinos, opera houses and cruise ships. Because of its unparalleled project management and product development capabilities, major global theater venues with multi-million dollar projects directly contract with Clancy to lead the design and integration of cutting-edge, custom rigging solutions. Clancy is a privately held company, which generates annual revenues in excess of $30 million.
It is our intent to operate these companies as complementary businesses. J.R. Clancy, led by Bob Theis and Mike Murphy, will remain J.R. Clancy. Wenger, led by Bill Beer, will remain Wenger. The headquarters of J.R. Clancy will remain in Syracuse and the headquarters for Wenger will remain in Owatonna.
Clearly, we anticipate that each business will benefit in the form of increased sales, broader depth and breadth of products, development of new markets, shared leverage and resources, and shared best practices. We are excited about joining these two great companies. This is a great transaction for both companies. Even more importantly, it is a great transaction for the employees of both companies!
Mr. Bob Theis Mr. Bill Beer
Chairman and CEO President and CEO
J. R. Clancy, Inc. Wenger Corporation