Carousel completes Atrion acquisition

CAROUSEL INDUSTRIES said it has completed its acquisition of Warwick-based Atrion Inc.
CAROUSEL INDUSTRIES said it has completed its acquisition of Warwick-based Atrion Inc.

EXETER – Carousel Industries of North America Inc. has closed on its acquisition of information technology firm Atrion Inc.

Carousel CEO Jeff Gardner said the acquisition, announced in June, was finalized Monday. Financial terms were not disclosed.

Carousel, which specializes in communications and network technologies, professional and managed services, and cloud solutions, now has more than 1,400 employees in 27 locations around the country. Gardner said Atrion, which is known as Atrion, A Carousel Company, will continue to maintain its offices in Warwick and Flemington, N.J.
The combined company has approximately $525 million in annual revenue, forming one of the largest privately-held IT services firms in the U.S.
“In announcing our intent to acquire Atrion, we emphasized the increasing expectation from clients for their IT service partners to elevate their position and become strategic business advisers,” Gardner said in a statement. “With this acquisition complete, Carousel accelerates its ability to deliver on that promise, enabling our respective and joint clients to fully benefit from a broader suite of IT solutions and services – backed by a proven methodology intensely focused on ensuring real and measurable business value.”
Gardner said since the news to acquire Atrion was announced, the companies have seen “significant revenue growth,” noting $2 million in closed sales alone and another $35 million in potential sales.
In Rhode Island, Carousel has approximately 450 employees, split evenly between the Exeter and Warwick locations. Since June 8, the company has hired 103 new employees, with 25 to 30 the direct result of the newly combined company, Nikki Nemarich, Carousel’s vice president of marketing, said.
She said the additional employees are part of Carousel’s growth strategy. Gardner noted the job creation is another positive related to the acquisition.
Said James Marsh, Carousel’s chief revenue officer, “As a unified organization, we are excited to go to market together and provide a deeper level of strategic value to existing and prospective clients.”
Tim Hebert, CEO of Atrion, A Carousel Company, noted the company’s 30-year history, and said they are looking forward to the next step in its journey.

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