Rough Brothers Acquires The Assets Of XS Smith
The sale includes all manufacturing equipment and inventory, trade names and all greenhouse structures, systems, products and designs.
August 21, 2012
Rough Brothers Greenhouses announced Aug. 15, 2012 that it has bought the assets of XS Smith, Inc. The XS Smith purchased assets include all manufacturing equipment and inventory, trade names and all greenhouse structures, systems, products and designs.
As part of the transaction, Rough Brothers intends to utilize the existing XS Smith production facility in North Carolina as an additional manufacturing facility. The XS Smith facility is a modern and efficient manufacturing facility which adds to existing Rough Brothers production operations in Cincinnati, Ohio, and Shanghai, China. The additional space in Washington, N.C., allows Rough Brothers to expand its production capability and simultaneously reduce shipping costs for customers in the Northeast, Mid-Atlantic and Southern markets.
“We believe that the greenhouse structures offered by XS Smith will expand our product line options for our customers and we look forward to working with them,” says Rough Brothers President Richard Reilly. “We have always believed that offering the highest quality products and being able to engineer our structures and systems to customer preferences is what has made us the largest greenhouse manufacturer in the market and we believe this acquisition will enhance that position.”
“We feel that joining Rough Brothers was the best option for XS Smith and our long- term customers. With Rough Brothers’ strong nationwide-sales force now offering the XS Smith structures I think we can start to grow again. In addition, having a strong financial partner like Rough Brothers gives us long-term stability and the resources necessary to compete,” says Skip Smith, President of XS Smith.
Rough Brothers plans on retaining the current key employees at XS Smith, including Skip Smith. “Rough Brothers is dedicated to improving its efforts in the market. With the Rough sales team and the talent infusion from the XS Smith team, we feel we are in a strategic position to understand and fill our customer’s needs,” says Divisional Manager Tom Vezdos.