Market News
Recent Developments
New product launches
- In January 2022, Hyloft, a brand that offers a range of popular ceiling and wall storage products that are designed to maximize available space and create new storage out of previously unused areas in garages, basements, and attics, launched the SystemOne Modular Storage Solution, an adjustable storage rack that can be customized as per user needs. It aims to provide efficient storage solutions for warehouses and retail spaces.
- In May 2021, Southwest Solutions Group, a premier solutions-oriented company that provides custom transformational efficiency storage systems to all types of businesses and government agencies, introduced the SFC-72 Storage Rack, with reinforced corrugated decking to enable heavy storage. It provides high-density storage for warehouses and retail stores.
- In June 2020, Rack Concepts, LLC, a company that specializes in marine grade aluminum rolling and stationary racks and rack systems, delivering material handling and storage racks tailored to each client\u2019s needs, launched a new decorative wire storage rack line called Princeton. It aims to provide an aesthetic wire shelving solution for homes and offices.
Acquisition and partnerships
- In March 2022, The Constructor Group, a well-established international company specializing in the manufacturing and supply of shelving and storage solutions, acquired Rack and Shelving Solutions, a supplier of industrial storage racks. This acquisition expanded Constructor\u2019s distribution network in the U.S.
- In January 2021, Lozier Corporation, the parent company of Nashville Wire Products, acquired Southwest Solutions Group. Southwest Solutions Group is a premier solutions-oriented company that provides custom transformational efficiency storage systems to various businesses and government agencies. This acquisition boosted Lozier\u2019s market share in storage rack solutions.
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